2024-08-28 03:00:00
This summer, many future owners like Clara and Thomas contacted us via the orange “Alert Us” button to better understand a new measure by the Walloon government: a reduction in registration fees for first-time real estate purchases.
The Walloon government has announced a major measure aimed at easing the financial burden on first-time homebuyers.
Now, The registration fee in Wallonia is 12.5% The purchase price of the property. This tax is a significant cost to the buyer.
For example, for a house worth €125,000, the buyer must pay a registration fee of €15,625. Reduce this ratio to 3% For first-time buyers, significant discounts can save over €10,000 on the same property.
Planned to be implemented in January 2025
The measure is expected to take effect in January 2025, about four months from now. The news has raised questions among many future buyers, such as Clara and her partners, as to whether they will be able to benefit from the price cut if they sign a sales agreement before that date.
The government has made it clear Date the purchase agreement was signed This will determine the applicable rate, rather than the signing-in-compromise date. So those who complete their purchase before January 2025 will have to pay the current 12.5%.
Unfortunately for Clara and others in the same situation, there will be no retroactivity. If the deed of purchase is signed before January 1, 2025, the buyer will have to pay the registration fee at the current rate of 12.5%.
The government has made it clear that the reduction to 3% will only apply to bills signed next year.
Take inventory with a notary
In the face of these changes, future owners must make good purchase plans and consult a notary to assess the pros and cons.
It is also important to note that the reduction in registration fees Will replace other benefitsjust like housing inspections. The measure will specifically target people who buy their first property and live there.
So the situation remains delicate for those close to completing a purchase. For those who can wait a few more months to benefit from the new rules, patience may be rewarded.
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