Tamba Villas urges buyers to profit from new VAT laws

Villa pool

Bedroom

“If you put a deposit down on a condominium before the end of the month,” says Tamba Villas Director Eduard Hempel, “you can immediately profit from it.”

After 1 April, any condominium buyers will have to pay 15% VAT on top of the purchase price, therefore all condominiums are about to go up in price. 

If buyers move quickly, and get a deposit down and registered before 1 April, they will not have to pay the VAT. “Not only that, but when you come to resell, your buyer won’t have to pay VAT, so that difference in price between a new condominium and yours will be a profit to you.”

Are prices about to rise otherwise? “Well,” says Hempel, “The other important announcement in the Budget is that foreign buyers will get three years’ resident visas if they buy a property for more than $ 400,000. If that doesn’t drive demand, I don’t know what will.”

To add icing on the cake, Tamba Villas is offering to pay the airfare up to $ 500 for foreign investors flying down to visit Tamba Villas, provided they put down their deposit before the deadline.