Last chance! Take advantage of 6% VAT on new construction now, before it's too late.
09/02/2024
Are you also convinced of the benefits of new construction but were still putting off buying your dream home?Then the government's recent decision may be a push to decide sooner. After all, the current favourable 6% VAT regime for demolition and reconstruction will no longer be extended. In this blog post, we go through the details of these new rules together, and explain why now is the perfect time to go for that dream home after all!
What exactly does the new legislation entail?
The 6% VAT rate was introduced in 2021 as a temporary measure to promote the purchase of a sustainable new-build home or flat. This turned out to be a very positive decision for buyers, building promoters and the real estate sector in general. Thanks to this VAT reduction, first-time buyers, young & large families and empty nesters saw their dream of a new-build home come true.
Recently, however, the government questioned this rule and sweeping changes were made.From 1 January 2024, the 6% VAT on new-build houses and flats will expire.This means that buying a house or flat in a new construction project will become as much as 15% more expensive. A big chunk of your budget, especially if you also take into account the already increased property prices of the past few years.
Building your new home or flat today?Enjoy a 15% discount!
Potential buyers of their own flat or house can benefit from a transitional measure.This is applicable given that the planning permission for the project was submitted before 1 July 2023. The transitional measure runs until the end of 2024.
In concrete terms, this means that you can potentially make huge savings on the purchase of your newly built house or flat. Thanks to the transitional measure, you enjoy a direct financial impact of no less than 15%, which for an average flat of 303,167 euros amounts to a discount of no less than 45,475 euros.
Opting for new construction now could mean a 15% discount for you, provided that:
- You buy your future new-build house or flat as a natural person. You are not buying here through your company.
- This is your only and own private residence, for at least the first 5 years.
- The habitable surface area is maximum 200m2
- The invoice for which VAT is due was issued before 1/01/2025.
- You sign the necessary VAT declaration.
Save today
If you are still unsure about the right time to proceed with the purchase of your dream home, now is the time to take action. With the future VAT legislation in sight, you can potentially make significant savings and get the chance to make a sustainable investment in your future!
It is important to note that this transition phase is temporary. To enjoy the tax benefit, you need to act quickly. Make sure you are aware of the exact deadline and contact our sales advisor so that together you can get everything in place in time.
Discover projects at 6% VAT!
