In today’s time, when the need for independent living among the younger generation and their earlier separation from parents is increasingly noticeable, the demand for apartments in new construction is becoming more pronounced, especially in local markets of strong economic centers.

Buying under construction is extremely popular, but you need to know how to secure your purchase and when you can buy an apartment on credit when it comes to new construction – purchasing from a legal entity (the project investor).

You can reserve an apartment in new construction on time, at the moment when the authorized real estate agency receives the draft plan of the residential building from the investor. However, you can certify the Preliminary Purchase Agreement for the specific property with an authorized Public Notary at the moment when the investor obtains the building permit. Note: the price per square meter is usually lower than the final, established price per square meter.

If you intend to purchase an apartment in new construction using borrowed financial resources – a housing loan, apply for the loan and sign and certify the Preliminary Agreement/Purchase Agreement for the property with the investor only when the residential building has reached 80% completion of the project.

Appendix: The right to a VAT refund is granted only to individuals who have not owned property in their name since 01.07.2006, and only in the case of purchasing property in new construction provided that the property was not in circulation before that (pre-sale), that is, only if the contracting parties are the buyer of the first property and the investor.