realestate

Majority of property deals facilitated through MyProperty platform

State platform to become primary means of implementing most real estate transactions.

T
he digital submission of real estate transfer declarations via the MyProperty platform continues to grow.

    In addition to initial declarations for horizontal and vertical property ownership, the list now includes modifications to these properties. In the coming months, almost all real estate transfer tax declarations will be submitted through the platform as part of the expanded official system for determining property values nationwide.

    Currently, the simplified procedure applies to areas where the objective value system is in place, excluding cases involving changes to indivisible percentages or tax obligations. The tax administration plans to include recommendations and modifications that result in tax liabilities on the MyProperty platform soon.

    The Independent Authority for Public Revenue advises that the application supports various properties within the objective values system and across the country. To submit initial property transfer tax declarations, notaries enter their personal Taxisnet access codes into the MyProperty app, create the declaration on behalf of buyers and sellers, and then send it to their respective mailboxes at MyAADE.

    Buyers and sellers can then log in with their personal Taxisnet access codes to accept and submit the declaration. For properties within the objective values system, electronic submission is required through MyProperty, although a property registration number (KAEK) is not necessary unless the property has been registered and holds a temporary or final KAEK.

Real estate agents facilitate majority of property transactions on digital platform MyProperty.