The partial sale process will be revived in the housing market.
Day.Az reports that one of the latest changes to the “Tax Code” is related to the reduction of the tax burden on entrepreneurs engaged in construction. The new change will allow construction companies to reduce their income tax burden.
Firdovsi Khalilov, an expert on real estate issues, says that according to the new rules, the tax will be collected only after the profit part of the apartment is paid to the entrepreneur. Previously, especially in apartments sold by partial sale, although the initial payment was attributed to the cost, the profit tax was deducted from this amount.
According to Eskpert, the amendment to the Tax Code will increase the interest of entrepreneurs in the partial sale of newly built buildings, which will lead to the accessibility of the apartment in question to citizens.
Firdovsi Khalilov added that one of the factors that can cause the price of apartments in newly built buildings is the increase in supply. For this, the relevant permit documents of the building projects must be approved in time.
The expert noted that, in addition, factors such as the provision of concessional loans to entrepreneurs at low interest rates and the cheapening of construction materials can lead to the offer of apartments in newly built buildings at low prices.
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