A continuous movement in the housing sector, by taking advantage of the state’s incurring of tax

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He continued his usual movement in the level of demand for real estate in its various forms


The housing sector in the Kingdom continued its usual movement in the level of demand for residential real estate in its various forms, whether villas and prefabricated apartments or under construction, as well as land, during the period coinciding with the approval of the new tax of 15%, as the sector witnessed remarkable stability with a slight growth in some cities Several factors contributed to it, the most prominent of which is the state bearing the VAT for the first residence.

The online portal has seenvat.housing.sa) Concerning the state’s incidence of value-added tax for the first residence in implementation of the royal order previously issued in this regard, a growth in visits by citizens and citizens wishing to purchase their housing units, as the number of visits reached 10 thousand visits per day, to benefit from the service of issuing a certificate bearing the tax That contributes to reducing the cost of buying housing for citizens.

The number of certificates the state incurred for the value-added tax for the first residence exceeded more than 280,000 certificates that contributed to the ownership of households in all regions by their first homes, and the absence of a tax on housing units under construction in partnership between the public sector represented by the Ministry of Housing and the private sector represented by real estate developers, continued In the reservation and purchase operations, as a statistic issued last Thursday by the Real Estate Development Agency at the Ministry of Housing showed that the daily rate of buying housing units under construction in various regions amounts to 500 reservations and a total value exceeding 350 million riyals, in light of economic expectations of an increase in this rate by taking advantage of the benefits The various available options that include in addition to bearing the tax, subsidizing the profits of real estate loans, reducing the advance payment of 5%, the appropriate prices and quality for the units in addition to the various guarantees and services.

A continuous movement in the housing sector, benefiting from the state’s bearing of housing taxes

Already

The housing sector in the Kingdom continued its usual movement in the level of demand for residential real estate in its various forms, whether villas and prefabricated apartments or under construction, as well as land, during the period coinciding with the approval of the new tax of 15%, as the sector witnessed remarkable stability with a slight growth in some cities Several factors contributed to it, the most prominent of which is the state bearing the VAT for the first residence.

The online portal has seenvat.housing.sa) Concerning the state’s incidence of value-added tax for the first residence in implementation of the royal order previously issued in this regard, a growth in visits by citizens and citizens wishing to purchase their housing units, as the number of visits reached 10 thousand visits per day, to benefit from the service of issuing a certificate bearing the tax That contributes to reducing the cost of buying housing for citizens.

The number of certificates the state incurred for the value-added tax for the first residence exceeded more than 280,000 certificates that contributed to the ownership of households in all regions by their first homes, and the absence of a tax on housing units under construction in partnership between the public sector represented by the Ministry of Housing and the private sector represented by real estate developers, continued In the reservation and purchase operations, as a statistic issued last Thursday by the Real Estate Development Agency at the Ministry of Housing showed that the daily rate of buying housing units under construction in various regions amounts to 500 reservations and a total value exceeding 350 million riyals, in light of economic expectations of an increase in this rate by taking advantage of the benefits The various available options that include in addition to bearing the tax, subsidizing the profits of real estate loans, reducing the advance payment of 5%, the appropriate prices and quality for the units in addition to the various guarantees and services.

13 July 2020 – 22 Dhul Qi’dah 1441

12:50 AM


He continued his usual movement in the level of demand for real estate in its various forms

The housing sector in the Kingdom continued its usual movement in the level of demand for residential real estate in its various forms, whether villas and prefabricated apartments or under construction, as well as land, during the period coinciding with the approval of the new tax of 15%, as the sector witnessed remarkable stability with a slight growth in some cities Several factors contributed to it, the most prominent of which is the state bearing the VAT for the first residence.

The online portal has seenvat.housing.sa) Concerning the state’s incidence of value-added tax for the first residence in implementation of the royal order previously issued in this regard, a growth in visits by citizens and citizens wishing to purchase their housing units, as the number of visits reached 10 thousand visits per day, to benefit from the service of issuing a certificate bearing the tax That contributes to reducing the cost of buying housing for citizens.

The number of certificates the state incurred for the value-added tax for the first residence exceeded more than 280,000 certificates that contributed to the ownership of households in all regions by their first homes, and the absence of a tax on housing units under construction in partnership between the public sector represented by the Ministry of Housing and the private sector represented by real estate developers, continued In the reservation and purchase operations, as a statistic issued last Thursday by the Real Estate Development Agency at the Ministry of Housing showed that the daily rate of buying housing units under construction in various regions amounts to 500 reservations and a total value exceeding 350 million riyals, in light of economic expectations of an increase in this rate by taking advantage of the benefits The various available options that include in addition to bearing the tax, subsidizing the profits of real estate loans, reducing the advance payment of 5%, the appropriate prices and quality for the units in addition to the various guarantees and services.

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