The following table provides an overview of the current status
of the real estate transfer tax rates in the individual federal
states (May 15, 2014). To the extent that specific information and
indications regarding a change of the real estate transfer tax rate
exist in a state, this was noted accordingly. Changes since the
last issue in spring 2014 are marked in bold.
5.0% (increase to 6.0% planned as from August 1,
* Pursuant to a draft law by the Hessian state government
amending the budget act for the financial y ear 2013/2014
Originally published July 9, 2014
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Back in Issue 05 of IQ, we examined the decision in Yam Seng PTE Ltd v International Trade Corporation Ltd and looked at whether a general obligation of good faith could be implied into contracts made in accordance with English law.
A recent report1 by Global Construction Perspectives and Oxford Economics forecasts that by 2030 the volume of construction output will grow by 85% to US$15.5 trillion worldwide, with China, the US and India leading the way and accounting for 57% of all global growth.
There are not enough homes to meet demand in much of the UK, and the tragedy is that despite recent fine words, Government policy still seems on course to keep it that way.
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