Lithuanian property developers may freeze EUR 175 mln worth of projects
2018-04-24, 11:52
Published in
Society
Photo M. Paluskevic
Lithuanian property developers may freeze investments worth around 175 million euros if the parliament levies an additional charge for projects planned on land leased from the state, the business daily Verslo Zinios reported on April 24th. The paper said that the figure was based on a survey of 53 members of the Lithuanian Real Estate Development Association (LNTPA). The Seimas is currently discussing a proposal that owners of buildings on state-owned land should pay a charge amounting to 20 percent of the tax value of the land if they want to reconstruct these buildings or demolish them and build new ones.
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