If you buy a property in Germany, you usually have to pay for it. The real estate transfer tax accounts for up to 6.5 percent of the purchase price. The savings bank president wants to abolish them.
Savings Bank President Helmut Schleweis has a tax relief property purchase stimulated. “We suggest at least that property transfer tax on self-used home ownership abolish it,” said the President of the German Savings Banks and Giro Association (DSGV) to the editorial network Germany. In addition to higher interest rates and construction costs, the real estate transfer tax also often destroys the dream of owning a home. “All of this together means that a family with two average salaries can practically no longer afford to own a home – that’s unacceptable,” said Schleweis.
The real estate transfer tax is levied by the states and accounts for up to 6.5 percent of the purchase price. If it were to go away, that would reduce the load right at the start of a construction project, said Schleweis. It would also be easier to implement than other funding programs.
The savings bank president warned of social upheavals due to the lack of housing: “The situation on housing market holds social Explosives.” When building rental apartments, the bureaucracy the biggest problem. The building regulations would have to be “decluttered at all levels”. (dpa)