The reduced VAT rate 5 % will be applied to the first 130 sq. m. of the built-up residential area
up to the value of 350,000 euros provided that and that the total value of the transaction does not exceed €475,000 and the total built-up area
190 sq. m..
The new rules will not be applied if planning permission has been obtained or an application for the planning permission has been submitted within four months from the entry into force of the amendment.