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
    Typical number of days needed for the transfer of title343434
    WDI
    		A.1.3.4
    Are there legal constraints on mortgage features?YesYesYes
    Research
    		A.1.6
    Loan-to-Value capYesYesYes
    National Bank of Serbia
    		A.1.6.2
    Is there specialized legislation covering:A.1.9
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    VariableEnd of 2018End of 2017End of 2016SourcesVar ID
    Is the lending side of the housing finance system subsidized?YesYesYes
    Research
    		B.1.2
    Shared credit risk through public/private mortgage insurance YesYesYes
    National Mortgage Insurance Corporation
    		B.1.2.1
    B.2 Subsidies to Households
    VariableEnd of 2018End of 2017End of 2016SourcesVar ID
    Are there subsidies to households on housing finance?NoNoNo
    Tenancy Law and Housing Policy in Serbia
    		B.2.1
    Interest rate subsidies by special government fundsNoNoNo
    Tenancy Law and Housing Policy in Serbia
    		B.2.1.1
    Down-payment subsidies   yesB.2.1.3
    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) YesYesYesC.1.1
    Property transaction taxes (purchase/selling)YesYesYesC.1.2
    Tax on capital gains on property YesYesYes
    Global Property Guide
    		C.1.5
    OtherYesYes C.1.6
    back to top | Country Data:
    Notes: % of households with reduced or free rent; National figure
    Notes: % of households with reduced or free rent; National figure
    Notes: % of households with reduced or free rent; National figure
    Notes: % of households with reduced or free rent; National figure
    Notes: % of households with reduced or free rent; National figure
    Notes: % of households with reduced or free rent; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of households; National figure
    Notes: % of total mortgage loans that are insured with the NMIC
    Notes: % of total mortgage loans that are insured with the NMIC
    Notes: % of total mortgage loans that are insured with the NMIC
    Notes: % of total mortgage loans that are insured with the NMIC
    Notes: 0% interest on state-subsidized loans from 2009-2012 and the last five years of the loan
    Notes: 0% interest on state-subsidized loans from 2009-2012 and the last five years of the loan
    Notes: 0% interest on state-subsidized loans from 2009-2012 and the last five years of the loan
    Notes: 0% interest on state-subsidized loans from 2009-2012 and the last five years of the loan
    Notes: 0% interest on state-subsidized loans from 2009-2012 and the last five years of the loan
    Notes: 20% capital gains tax only on nonresidents
    Notes: 20% capital gains tax only on nonresidents
    Notes: 20% capital gains tax only on nonresidents
    Notes: 20% capital gains tax only on nonresidents
    Notes: 20% capital gains tax only on nonresidents
    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: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: 80% LTV limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average key policy rate over the year
    Notes: Average LTV for mortgages insured by NMIC which account for almost 80% of mortgages
    Notes: Average LTV for mortgages insured by NMIC which account for almost 80% of mortgages
    Notes: Average LTV for mortgages insured by NMIC which account for almost 80% of mortgages
    Notes: Average LTV for mortgages insured by NMIC which account for almost 80% of mortgages
    Notes: FSAP conducted in 2010
    Notes: In 2014 there was no budget to implement state subsidies
    Notes: In 2014 there was no budget to implement state subsidies
    Notes: Kinship and other forms of tenure; National figure
    Notes: LafargeHolcim is a building materials company that partnered with lenders to offer housing microloans
    Notes: LafargeHolcim is a building materials company that partnered with lenders to offer housing microloans
    Notes: LafargeHolcim is a building materials company that partnered with lenders to offer housing microloans
    Notes: LafargeHolcim is a building materials company that partnered with lenders to offer housing microloans
    Notes: LafargeHolcim is a building materials company that partnered with lenders to offer housing microloans
    Notes: LafargeHolcim partnered with Societe Generale to offer housing microloans
    Notes: LafargeHolcim partnered with Societe Generale to offer housing microloans
    Notes: LafargeHolcim partnered with Societe Generale to offer housing microloans
    Notes: LafargeHolcim partnered with Societe Generale to offer housing microloans
    Notes: LafargeHolcim partnered with Societe Generale to offer housing microloans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Limit for foreign currency denominated or foreign currency index mortgage loans
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Modeled ILO estimate
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: Mortgage Law of 2005
    Notes: National figure
    Notes: National minimum monthly with average of 174 labor hours
    Notes: National minimum monthly with average of 174 labor hours
    Notes: National minimum monthly with average of 174 labor hours
    Notes: National minimum monthly with average of 174 labor hours
    Notes: National minimum monthly with average of 174 labor hours
    Notes: National minimum monthly with average of 174 labor hours
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National minimum monthly with average of 174 labor hours; weighted average of minimum wage during the year
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: National Mortgage Insurance Corporation is owned by the Serbian Government
    Notes: NMIC is a public institute of mortgage insurance which covers nearly all mortgages in Serbia.
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: NMIC is a public mortgage insurance provider that works with commercial banks
    Notes: Property tax rate ranges between 0.3% to 2%
    Notes: Property tax rate ranges between 0.3% to 2%
    Notes: Property tax rate ranges between 0.3% to 2%
    Notes: Property tax rate ranges between 0.3% to 2%
    Notes: Property tax rate ranges between 0.3% to 2%
    Notes: Property transfer tax of 2.5%
    Notes: Property transfer tax of 2.5%
    Notes: Property transfer tax of 2.5%
    Notes: Property transfer tax of 2.5%
    Notes: Property transfer tax of 2.5%
    Notes: Provisional figure
    Notes: Rent and subtenancy units; National figure
    Notes: Rental income taxed at 20%
    Notes: Rental income taxed at 20%
    Notes: Serbian government has begun a privatization process of its state-owned banks but Postanska stedionica remains public