Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2018End of 2017End of 2016SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)CivilCivilCivilA.1.1
Are there specific laws that deal with mortgages? YesYesYesA.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 title565656
WDI
A.1.3.4
Are there legal constraints on mortgage features?No  A.1.6
Loan-to-Value capNo  A.1.6.2
Are there consumer rights for mortgage lending? Yes  
Europa.eu
A.1.7
Are there disclosure requirements for mortgage lending?Yes  
Europa.eu
A.1.8
Is there specialized legislation covering:A.1.9
Issuance of covered mortgage bondsYesYesYes
European Covered Bond Council
A.1.9.1
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
B.2 Subsidies to Households
VariableEnd of 2018End of 2017End of 2016SourcesVar ID
Are there subsidies to households on housing finance?YesYesYesB.2.1
Subsidies to savings for mortgage loansNot availableNot availableNot available
 
B.2.1.4
Mortgage interest deductibility from income taxYesYesYes
National Bank of Belgium
B.2.1.5
OtherYesYesYesB.2.1.6
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2018End of 2017End of 2016SourcesVar ID
What taxes apply to Residential Real Estate?C.1
Tax on property (home-owners) YesYesYes
Deloitte and Global Property Guide
C.1.1
Property transaction taxes (purchase/selling)YesYesYesC.1.2
Tax on capital gains on property YesYesYesC.1.5
OtherYes  C.1.6
Are there tax benefits on rental properties?NoNoNoC.2
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Notes: 1% Insurance Companies; 1.3% Other
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1) Registration Tax (old properties only); 2) Value Added Tax (new properties only)
Notes: 1.3% Insurance companies; 2.8% Other
Notes: 1.7% Insurance Companies; 2.2% Other
Notes: 1.7% Insurance companies; 2.6% Other
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
Notes: 16.5% capital gains tax payable only for developed properties within 5 years of purchase. After 5 years, no capital gains tax is payable.
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: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2016 = 100
Notes: 2016 = 100
Notes: 2016 = 100
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy called the 'withholding tax' is collected on immovable property located in Belgium. The tax rate ranges from 1.25% to 2.5% and is imposed on the cadastral value of the property.
Notes: A levy known as "immovable withholding tax" is imposed on the deemed income from immovable property located in Belgium. Although called "withholding tax", this tax is levied by assessment. Tax on immovable property is levied on the cadastral value of the property at rates ranging from 1.25% to 2.5% depending on the location.
Notes: A levy known as "immovable withholding tax" is imposed on the deemed income from immovable property located in Belgium. Although called "withholding tax", this tax is levied by assessment. Tax on immovable property is levied on the cadastral value of the property at rates ranging from 1.25% to 2.5% depending on the location.
Notes: Access to ENR data is restricted to ENR database participants
Notes: Access to ENR data is restricted to ENR database participants
Notes: Actual value is -0.24%
Notes: Actual value is -0.59%
Notes: Actual value is -0.66%
Notes: Belfius Bank and Insurance formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Belfius Bank and Insurance, formerly known as Dexia Bank Belgium, is a government owned company. The firm was purchased by the Belgian State in 2011.
Notes: Government-related institution provides "socially targeted" MI
Notes: Housing bonus system in Flanders allows homeowners to deduct capital repayments and insurance premiums (related to mortgages) from income for tax purposes. The total deduction is 40% tax relief up to EUR 1,520. 
Notes: Housing bonus system in Flanders, which allows household owner to obtain a deduction consisting of interest, capital repayments, and life insurance premiums
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: If one buys a second house, a system based on long-term savings applies. This system consists of the capital repayments and premiums used to pay for life insurance schemes and serves as a guarantee for the reimbursement of the mortgage. The level of deduction amounts to EUR 2,260
Notes: Immovable property gift tax rate for spouses, legal partners, direct-line descendants ranges from 3% to 27%.
Notes: Immovable property tax is imposed at the regional level. Rate is 1.25% to 2.5% depending on the location.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: In August 2012, the Belgian Parliament adopted the legislation on covered bonds. The legal basis for Belgian covered bonds is incorporated into the banking law.
Notes: Mortgage interest payments qualify for a deduction in the personal income tax. This is part of the country's Mortgage Interest, Insurance Premiums, and Capital Deduction Scheme (MICPD).
Notes: NBB sets recommendations for LTV limits, but banks can still grant mortgages with higher LTVs by discretion
Notes: No enforced maximum, but the National Bank of Belgium explicity recommends an LTV of 90% for owner-occupied housing, 80% for buy-to-let
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: On January 1, 2005, a tax deduction commonly referred to as the "housing bonus" replaced the "home purchase savings" tax incentive. This new deduction allows an individual who purchases their "own and sole" home with a mortgage loan with a minimum of ten years to deduct the interest, capital depreciation, and other insurance premiums paid in connection with the loan from their income
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants that pay market price rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: Percent of tenants with reduced or free rent
Notes: The Housing Bonus tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The 'housing bonus' tax deduction also includes home construction and renovation expenses
Notes: The Housing Bonus tax deduction also includes home construction and renovation expenses
Notes: The lender must give the European Standardised Information Sheet (ESIS), a document that provides an overview of terms and conditions on the offer
Notes: The typical range is 30-50
Notes: The typical range is 30-50
Notes: The typical range is 30-50
Notes: The typical range is 30-50
Notes: The typical range is 30-50
Notes: The typical range is 30-50
Notes: The typical range is 30-50
Notes: There is a "housing bonus" system which allows the owner of a house to deduct interest capital repayments.
Notes: Transfer/registration taxes apply at rates from 0.2% to 12.5% depending on type of transaction and region where the property is located.