Legal information

The Meerhof 2.0 building being built is located on commercial land and arising from that the formal intended use of building is short-term accommodation.

As the building is being built according to all the technical conditions and requirements for an apartment building, it can be used for daily living similarly to a regular apartment.

Similarly to any other residential building development the building is developed into apartment ownerships and each ownership is separately registered on the land register, which can be bought, sold, pledged as collateral for a loan etc.

Legal persons that purchase the apartment ownership for the purpose of the short-term letting of the apartment ownership have the opportunity to apply to reclaim VAT from the purchase-sale price.

Future residents must take into account the restrictions, according to which in case of buildings located on commercial land the exemption from land tax cannot be applied for from the local government (rate of land tax in 2015 on the specific registered immovable is about 0,7 eur/apartment ownership m2 per annum).

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