When income from the sale of immovable property is not taxed

Income from the sale of immovable property (e.g. an apartment, real estate, land) is not subject to tax in either of the following cases:

• you held continuous ownership of the immovable property for at least 10 years; or
• you had declared your residence in the apartment or house sold at least 2 years prior to when the sale was concluded; or
• you had declared your residence in the apartment or house sold for less than 2 years but within one year you bought another property and declared your residence there.