Casatax, always a good deal for real estate buyers

Good news for buyers in the canton of Geneva. Since 1st March 2020, the “Casatax” incentive for first time buyers has been increased. As a reminder, this reduction on purchase fees allows for a significant reduction in purchasing costs. The new reduction in notary fees now stands at CHF 18'039 (17'755 in 2019). An additional benefit of this is incentive, is the halving of the mortgage registration fee.

However, in order to benefit from “Casatax”, certain conditions must be met. As of the 1st March 2020, the price of the property purchased must not exceed CHF 1'202'607 (previously CHF 1'183'649), the value indexed annually to the Geneva construction index. In addition, “Casatax” concerns only private individuals and cannot be claimed retrospectively. The property purchased (such as this one offered for sale by Swissroc Properties) must also serve as the principal residence of the purchaser. The purchaser must provide the Land Regsitry with proof that the property is used as a principal residence within two years of signing the sales contract. From then on, the owner must occupy the property for a continuous period of 3 years. The unpaid balance of the discount will be due to be paid if any of the conditions mentioned above are not fulfilled or change.

Register at www.swissroc-properties.com to find properties that qualify for “Casatax”