Hey has the VAT on property recently changed? I read that (copy and pasted) According to the new provisions of the VAT Law, the reduced rate of VAT will apply to the first 130 square meters of a buildable residential area, based on the building factor and architectural plans presented to get a planning permit, up to a property value of €350,000, provided the total transaction does not exceed €475,000 and the total buildable area is no more than 190 square meters.