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)Civil law Civil lawA.1.1
    Are there specific laws that deal with mortgages? YesYesYes
    Republica Oriental Del Uruguay
    		A.1.2
    Registration/Transfer of titles:A.1.3
    Does the law clearly define different types of property rights?YesYesYesA.1.3.1
    Typical number of days needed for the transfer of title666666
    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?YesYesYes
    MVOTMA (Ministry of Housing Uruguay)
    		B.2.1
    Buy-down of monthly/interest paymentsYesYesYesB.2.1.2
    Subsidies to savings for mortgage loansYesYesYesB.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) Yes  C.1.1
    Property transaction taxes (purchase/selling)Yes  C.1.2
    Tax on capital gains on property Yes  C.1.5
    OtherYes  C.1.6
    Are there tax benefits on rental properties?Yes  C.2
    back to top | Country Data:
    Notes: 110.58
    Notes: 118.38
    Notes: 143.56
    Notes: 163.81
    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: BHU is a government supported institution, that promotes savings towards housing loans. It has around 50% share in the mortgage market.
    Notes: BHU is a government supported institution, that promotes savings towards housing loans. It has around 50% share in the mortgage market.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lender that is 100% government-owned. It was founded in 1892.
    Notes: BHU is a mortgage lener that is 100% government-owned. It was founded in 1892.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: BROU is a state-owned bank that was founded in 1896.
    Notes: Capital gains are taxed at a rate of 12%. Capital gains is defined as the difference between sales price and acquisition costs.
    Notes: Figure is a national statistic, not confined to urban areas.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Law No.s 17.596, 12.314, 18.574, 18.795 deal with mortgages.
    Notes: Real estate tax is levied on properties at rates that range from 0.15-0.30%. The tax rate depends on the value of the home.
    Notes: Rental income is taxed at a rate of 12%.
    Notes: Taxable rental income is calculated as income minus deductions; allowed deductions include real estate taxes, property tax for basic education, lease contract fees, administration costs, and other costs associated with rental properties.
    Notes: The Central Bank regulates the operations of the credit bureau.
    Notes: The Central Bank regulates the operations of the credit bureau.
    Notes: The Central Bank regulates the operations of the credit bureau.
    Notes: The Central Bank regulates the operations of the credit bureau.
    Notes: The Ministry can provide support to up to 50% of the monthly payments, under its subsidy quota.
    Notes: The Ministry can provide support to upto 50% of the monthly payments, under its subsidy quota.
    Notes: The Subsidio a la Cutoa del Credito Hipotecario (Subsidy to the Mortgage Credit) by MVOTMA helps people with their monthly payments.
    Notes: The Subsidio a la Cutoa del Credito Hipotecario (Subsidy to the Mortgage Credit) by MVOTMA helps people with their monthly payments.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Uruguayan Civil Code was originated in 1868.
    Notes: The Yo Ahorro (I Save) is a subsidy program that gives incentives for people between the ages of 18 to 29 to open up a savings account. The amount of bonus granted ranges from UI 2,700 to UI 10,800, depending on the number of deposits made and the amount deposited. The program also provides additional benefits such as lower interest rates and the ability to finance a greater percentage of the house that they are buying.
    Notes: The Yo Ahorro (I Save) is a subsidy program that gives incentives for people between the ages of 18 to 29 to open up a savings account. The amount of bonus granted ranges from UI 2,700 to UI 10,800, depending on the number of deposits made and the amount deposited. The program also provides additional benefits such as lower interest rates and the ability to finance a greater percentage of the house that they are buying.
    Notes: The Yo Ahorro (I Save) is a subsidy program that gives incentives for people between the ages of 18 to 29 to open up a savings account. The amount of bonus granted ranges from UI 2,700 to UI 10,800, depending on the number of deposits made and the amount deposited. The program also provides additional benefits such as lower interest rates and the ability to finance a greater percentage of the house that they are buying.
    Notes: There is a transfer tax of 4%. This tax is split between the buyer and seller.