Becoming a homeowner will cost less... under certain conditions!

The Flemish government is not only defined by its taxes and fines. It also knows how to make nice gestures. In his September statement, Jan Jambon, the Minister-President of the Flemish Government, announced a number of important changes in the area of real estate sales tax.

Adaptation of sales rights

On 1 January 2022, the sales tax for the purchase of a home, which must be your ‘own and only’ home, will be reduced from 6% to 3%. This rate will even drop to 1% (from 5%) in the case of reconstruction or extensive energy renovation.

In addition, the additional reduction (a kind of allowance) that applies to registration fees for the purchase of a ‘modest’ home (purchase price below 200,000 euros or 220,000 euros in the urban centres and the Flemish periphery around Brussels) remains in place but will be proportional to the reduced rate. For beneficiaries of the new 3% rate, the current reduction of 5,600 euros will be halved to 2,800 euros, while it will be reduced to 933 euros for those subject to a 1% rate.

• At the same time, an increased rate will apply to the purchase of a second home.
• The rate will rise from 10% to 12% for the purchase of a building plot, a second home, an investment property or any property other than a principal residence.
• Purchasers of agricultural land, however, will fall between the cracks as they will retain the 10% rate.

These new rates will come into effect for all sales contracts concluded from 1 January 2022. The date of the deed of sale will be decisive.

Source : www.lesoir.be