A new decree has been adopted in the Flemish Region, reducing registration duties on a first home from 10% to 7%, with effect from 1 June 2018.

As part of this decree, the Region is also abolishing the reduced rate for modest homes that was still in force.

The conditions for obtaining this 7% rate are as follows:

• First purchase
• Purchase of the property as the buyer’s own family home

A reduction of €5,600 may be obtained for modest homes with a purchase price not exceeding €200,000, or €220,000 in major cities and the Brussels suburbs.

A further reduction is available if the modest home undergoes energy-efficiency renovations within five years of purchase.

For other property purchases, however, the rate remains at 10%!