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)Common law based on the English modelCommon law based on the English modelCommon law based on the English modelA.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 title392525
    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
    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) YesYesYesC.1.1
    Tax on capital gains on property NoNoNoC.1.5
    OtherYesYesYesC.1.6
    Are there tax benefits on rental properties?NoNoNoC.2
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    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
    Notes: Land tax and land value appreciation tax
    Notes: Land tax and land value appreciation tax
    Notes: Land tax and land value appreciation tax
    Notes: Net rental income is taxed at a flat rate of 20%.
    Notes: Net rental income is taxed at a flat rate of 20%.
    Notes: Net rental income is taxed at a flat rate of 20%.
    Notes: The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to the customers. Mortgage Indemnity Policy secures up to 100% mortgage.
    Notes: The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to the customers. Mortgage Indemnity Policy secures up to 100% mortgage.
    Notes: The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to the customers. Mortgage Indemnity Policy secures up to 100% mortgage.