Housing Finance Policy

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    A. Legal and Regulatory Framework

    A.1 Legal and Regulatory Framework
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Mixed legal system of English common law and French civil lawMixed legal system of English common law and French civil lawMixed legal system of English common law and French civil lawA.1.1
    Are there specific laws that deal with mortgages? YesYesYes
    Laws of Seychelles, Chapter 164
    		A.1.2
    Registration/Transfer of titles:A.1.3
    Does the law clearly define different types of property rights?YesYesYes
    Laws of Seychelles, Chapter 228
    		A.1.3.1
    Typical number of days needed for the transfer of title333333
    WDI
    		A.1.3.4
    Is there specialized legislation covering:A.1.9
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    B.2 Subsidies to Households
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Are there subsidies to households on housing finance?YesYes 
    Research
    		B.2.1
    Down-payment subsidies YesYes B.2.1.3
    Subsidies to savings for mortgage loansYesYes 
    Ministry of Habitat, Infrastructure, Land Transport and CAHF
    		B.2.1.4
    Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
    C. Taxation
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What taxes apply to Residential Real Estate?C.1
    Tax on property (home-owners) No  C.1.1
    Tax on capital gains on property No  C.1.5
    OtherYes  C.1.6
    Are there tax benefits on rental properties?No  C.2
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    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: Average annual income
    Notes: Average annual income
    Notes: Average annual income
    Notes: Average annual income
    Notes: Average annual income
    Notes: First time home buyers earning less than Rs20,000 (US$1,509.43) per month qualify for a government subsidy in the form of a cash grant between Rs50,000 (US$3,773) and Rs200,000 (US$15,094) as a down payment. To qualify, applicants must have at least a 10% contribution towards the cost of the property. The HFC also grants exceptions for those who can only manage to save 7.5% on a case by case basis.
    Notes: First time home buyers earning less than Rs20,000 (US$1,509.43) per month qualify for a government subsidy in the form of a cash grant between Rs50,000 (US$3,773) and Rs200,000 (US$15,094) as a down payment. To qualify, applicants must have at least a 10% contribution towards the cost of the property. The HFC also grants exceptions for those who can only manage to save 7.5% on a case by case basis.
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Housing Finance Company Limited
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Loans made by other depository corporations
    Notes: Seychelles Housing Finance Company and Public Management Corporation
    Notes: The HFC has the Housing Savings Scheme which enables people to save a minimum of 10% to qualify for government-constructed subsidized housing (currently costs about Rs450,000 or US$33,962).
    Notes: The HFC has the Housing Savings Scheme which enables people to save a minimum of 10% to qualify for government-constructed subsidized housing (currently costs about Rs450,000 or US$33,962).
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The Housing Finance Company Limited is a government owned company that provides financing for the purchasing of land, housing and home improvements. This institution was incorporated in 2003.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted in 1981.
    Notes: The People's Housing Mortgages Act was enacted n 1981.
    Notes: There are no deductions allowed on rental properties.
    Notes: There is a flat tax of 15% on rental income.