New Rules for Registration Fees in Wallonia

Buying a home, whether it's a house or an apartment, is a significant financial investment. The Walloon government understands this and has decided to increase the tax exemption, also known as the "abattement," to make it easier for first-time buyers to purchase property.

What Are the New Rules for Registration Fees in Wallonia?

Since 2018, first-time buyers in Wallonia have been able to benefit from a tax exemption of €20,000, resulting in a net savings of €2,500. Nearly 25,000 households have already taken advantage of this measure. Recently, however, this amount has been doubled to €40,000 for properties with a purchase price up to €350,000.

Increased Tax Exemption for First-Time Buyers in Wallonia

With this recent change, first-time buyers can now benefit from a much larger tax benefit. For properties under the standard 12.5% rate, this measure provides tax savings of up to €5,000 for homes or apartments priced up to €350,000. This is an excellent opportunity to make homeownership more accessible for Walloon residents.

Real Tax Advantage for First-Time Home Buyers

The increase in the tax exemption provides a real benefit for first-time buyers. For properties that fall under the standard 12.5% rate, this measure allows for a tax savings of up to €5,000. For more expensive properties, a declining exemption applies up to a property value of €500,000, after which the exemption remains unchanged.

What Happens for More Expensive Properties?

For properties priced above €350,000 but below €500,000, a declining tax exemption is applied. This means that the tax savings decrease as the property value increases. For properties valued over €500,000, the current exemption remains the same as for lower-priced properties.

Who Is Eligible for the Increased Exemption?

The increased tax exemption is available to first-time buyers in Wallonia. To qualify, the purchased property must be the buyer's primary residence, and the buyer must not have owned any other real estate in recent years. Additionally, the property value and purchase price must fall within the set limits.

Conclusion: An Attractive Measure for First-Time Buyers

The increased tax exemption for first-time buyers in Wallonia is an excellent initiative to help those looking to purchase their first property. With savings of up to €5,000, buying a home becomes more financially accessible. For properties valued up to €350,000, this measure offers a significant tax advantage, making homeownership even more attractive. Be sure to research the conditions carefully to fully benefit from this tax measure.