Wallonia: tax allowance doubled
Rising property prices and the additional requirements imposed by banks in recent years have made it increasingly difficult, particularly for young people, to buy property. Against this backdrop, the Region has decided to double the allowance for first-time buyers.
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Since 2018, first-time buyers have benefited from a €20,000 allowance on registration fees, representing a net saving of €2,500. Nearly 25,000 households have already been able to benefit from this measure.
The amount of the allowance will be doubled to €40,000 for an acquisition value of up to €350,000. This measure will give first-time buyers a real tax advantage of up to €5,000 for a property subject to the standard 12.5% registration rate.
For more expensive assets, the benefit will be degressive up to a value of €500,000, above which the current allowance remains unchanged.
Clarification of the concept of first-time buyer
It is important to specify that the notion of "first-time buyer" refers to the purchase of a single principal residence. This means that a person or household can benefit from this measure several times over the course of their lifetime, provided that it is still their principal residence. For example, it is possible to start with the purchase of a studio, then move on to acquire an apartment, and finally a house as the family situation evolves, provided the previously acquired property is resold.
What about building land?
For building land, the allowance is halved.
Indeed, it would be illogical to grant a similar advantage for the purchase of a building plot worth €350,000 on which a home is to be built, the total value of which would far exceed this €350,000. The aim of this provision is to ensure a degree of fairness.
