Assoimmobiliare, housing needs 170 billion in investment

Assoimmobiliare's eight proposals concern the revision of the fiscal transparency regime for real estate funds to attract new investors; the revision of VAT to allow deduction for professional operators and reduce the rate from 10 per cent to 5 per cent; the recognition of the instrumentality of rented residential properties, allowing costs to be deducted and the application of business income rules; and the flexibility of changes of use with special attention to residential rental functions. More in detail:

1. The revision of the tax transparency regime for real estate investment funds, which would expand the pool of potential investors from which to gather financial resources to invest in the residential sector.

2. The possibility, in relation to leases and transfers of residential buildings, of exercising the option for VAT taxation by professional persons who predominantly carry out the activity of leasing and the halving (from 10% to 5%) of the rate applicable to leasing, with a consequent broadening of the offer and possible reduction of rents.

3. Recognition of the instrumental character of rented residential properties, overcoming an outdated accounting classification; here too, the possibility for the operator to deduct purchase/construction/recovery costs could translate into the possibility of expanding the offer, lowering rents, having more resources for property maintenance;

4. The reduction of the registration tax (currently at 9 per cent) for purchases and sales of residential property carried out by professionals; this would facilitate greater involvement of professionals for whom the current registration tax is a burden that makes investment and rental transactions on residential buildings uneconomic;

5. Imu exemption for residential properties leased by professional investors to natural persons who use them as their main home, guaranteeing a reduction in rent equivalent to the benefit obtained by the landlord-tenant.

6. Greater flexibility in changes of use, to encourage the conversion of buildings that already exist but are not currently used for residential purposes;

7. Reduced timeframes for issuing planning permission in all cases of development of social housing, affordable housing, student housing, senior living or housing for sale at subsidised prices; building contributions calculated exclusively on the greater volume in cases of demolition and reconstruction with an increase in volume and total exemption for subsidised housing; exemption from the obligation to provide parking spaces and additional areas for services of general interest in cases of demolition with reconstruction without an increase in volume.

8. Certainty of time limits for contesting titles, setting 60 days from the display of the construction site sign as the time limit for contesting a title for the realisation of a residential construction project, thus guaranteeing legal stability for investments.

In the debate promoted by Assoimmobiliare, in addition to Minister Salvini, the Honourable Lucia Albano, undersecretary of the Mef, intervened, confirming that the Ministry of the Economy has set up a working table and a control room to put public real estate assets back at the centre as financial leverage, together with public and private capital. Not only that, it is working on a revision of the regulatory framework on public property to make it more homogeneous and functional to housing needs, and again, that the valorisation of this heritage is the subject of a specific service that also provides for an update of the regulations and daily collaboration with other institutional subjects. Commitments in line with the private sector's request, which chorally calls for a "structured housing ecosystem", with a vision of perspective on the part of Parliament and Government.