Real estate prices are expected to rise in Odessa

Property prices continue to rise. According to experts, in the current summer alone, the cost of apartments will increase by 5-7%. In the annual perspective, prices are expected to rise up to 15%. Among the reasons are the usual inflation and pandemic, which, among other things, affect the cost of building materials. In particular, this also applies to such basic materials as concrete and reinforcement. If the reasons listed above affect the rise in prices smoothly and in the long term, now there is also a legislative factor that will in an instant boost apartment prices by 20% – bill # 5600, which provides for: 

1. an increase in value added tax (20%) to the price of the apartment. After the adoption of the law, VAT will have to be paid when buying any real estate from a private company. Only apartments in houses that are built for state money (even partially) and under affordable housing programs will be sold without VAT. 

2. As for the secondary real estate market, for the third and subsequent sales of real estate within one calendar year, you will have to pay personal income tax (income tax) in the amount of 18% of the cost of the apartment. At the same time, the rental price will also rise, which has a good effect on the investor’s passive income. Therefore, have time to buy an apartment in Odessa before the price increase and get more rental income in the future! Great deal!