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Real estate cartels - Newspaper

Purchasing new apartments carries risk of gift tax – potential pitfall for buyers

The trade of new apartments has nearly ground to a halt during the spring and fall seasons. In the wake of past years construction booms, construction companies find themselves with a surplus of recently completed or soon-to-be-finished units, which currently remain vacant due to sluggish demand. As the real estate market faces stagnation, developers are resorting to offering a variety of incentives to spur sales.

Building management cartel firms fined millions

Real estate managers were engaged in cartel-like activities, according to the Market Court, and must pay millions of euros in fines.

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