VMRO proposes keeping the lower tax rates for first time home buyers

VMRO-DPMNE representatives in Parliament proposed a bill that will keep in place the 5 percent VAT tax rate for purchase of apartments for first time buyers, instead of the 18 percent rate that was supposed to go into effect.

With the bill, that is expected to go through Parliament, the 5 percent rate will remain in place until 2028.

When purchasing an apartment of 70 square meters, buyers can save up to 15,000 EUR, depending on the price of the apartment. This is a serious, realistic support measure, not just a declarative measure, said Katerina Dimitrovska from VMRO-DPMNE.

As much of Europe and the US, Macedonia is facing high real-estate prices that have more than doubled in some areas over the past several years.