The visualizations of Madarász38 already give a good overview of what the building is going to look like, however, this short video will allow you to see and go around the building. Please click here for the video.
The apartments in the Madarász38 project are selling fast, the building will be just as popular as its neighbors, Babér utca 13-15, handed over recently, and the Berettyó utca 2-8. Hightened customer interest is unquestionably attributable, besides the specificities of the building and the apartments of course, to a proposed bill that, once passed, will provide for a 5% VAT content for all the apartments in this building.
The Parliament has amended the VAT legislation. Under the stipulations of the amended law, the VAT rate applicable to every Metrodom construction currently in progress is 5%, irrespective of the date of completion. Consequently, 5% VAT is levied on apartments to be completed and paid for in 2020, such as the ones in Madarász38 or phases L-M of City Home, sales of which shall commence in the coming weeks.
The construction site was prepared earlier this week and, as you can see in the below image, groundworks for the last phase of the City Home project have begun. As usual with all our projects, contruction works are broadcast live, check the webcam here.
The prices and layout plans of the apartments in the Madarász38 project have been uploaded to our website. If you are interested, please browse through the apartment selector. Floor plans will be available on the website as of next week, sales of apartments will begin on 17 October.
The building permits for City Home L and M has have come to legal force, they can be downloded from here. The last two phases will be constructed on a plot at the Mester utca and Máriássy utca corner, sales will commence in November.
The building permit for the implementation of our Szobor utca project has been received from district authorities, it can be downloaded from here. At the same time, equipment and facilities required to start construction have also been deployed on the building site and ground works will already begin next week. Sales of apartments is expected to commence at the end of the month, we appreciate your patience until then
Following the statement made by the Hungarian Minister of Finance on restoring the 27 percent VAT levied on new-build property as of January 1, 2020, we received numerous enquiries regarding new projects to be launched in the near future so that customers can still make preferential VAT purchases. Although the projects launched in Fall this year will only be handed over during 2020, price installments (or the whole purchase price if the customer so decides) paid before the end of next year will only be encumbered with the favorable, 5 percent VAT. The respective locations and features of our new projects commencing Fall this year are outlined below.
Please kindly note that on top of the 10% downpayment, an additional 10% advance will be payable for apartments covered by propety sales contracts (or preliminary contract) signed after September 1, 2018. For mor information on our payment schedule, please click here or turn to our property advisors to enquire about the changes.
We have signed the financing contract with Takarék Kereskedelmi Bank Nyrt. (previously FHB) for Szobor utca and City Home phases L-M, two of our new projects starting in fall this year. Financing of the projects and implementation and therefore construction, starting on the sites in September and October respectively, has been secured.