Published Budget Message of President of the Russian Federation for 2012-2014. In it, in particular, says that the regions that hold cadastral valuation of real estate, will begin to levy property taxes in 2012. From the point of view of experts, whether or not to predict that the price of expensive real estate after the tax fall? As a whole, this tax will affect the capital market real estate?
“The prices for elite real estate after the introduction of the new tax will not decrease, – told BakuToday Director of sales of real estate company Penny Lane Realty Alexander Zima. – First, by imposing a tax to build more luxury real estate will not, the volume of supply of luxury housing will always be limited, so demand for it will not decrease. Second, the elite real estate for the vast majority of buyers – this is including, in addition to its purpose, compulsory acquisition of a status, standing alongside collectible watches, expensive cars, jewelry, etc. Rich, wealthy person just has to have an elite apartment, if he wants to maintain the reputation of the successful entrepreneur and a reliable partner. “
Even if a tax increase to 5 or 10 times, the owner of this budget will not suffer, says Zima. “People who are paid millions and millions of dollars for an apartment in the state every year to pay several thousand dollars – he said. – This is confirmed by international practice: in developed countries have introduced a progressive tax schedule. However, the demand for luxury housing from this at all does not fall, and prices are not reduced. Even on the contrary: in Monaco, where the highest taxes and most expensive real estate, the demand for luxury homes, condos and apartments are steadily outstripping supply. “
“It should be noted that until now no one can say exactly the size of any new tax, nor the method of calculating it, – the analyst added. – It is unclear exactly which ministries, departments or inter-departmental committee will be responsible for the indexation of the tax on economic crisis, stagnation or sustainable development. Therefore, in the years to expect some changes and the more prices fall for expensive real estate is hardly necessary. On the whole, at the capital’s real estate market these possible changes in taxation, in my opinion, does not have any material impact “.
