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.