The Flemish Minister-President announced in his September declaration important changes concerning the registration duties (as part of a larger preliminary draft Programme Decree containing provisions to accompany the 2022 budget). On 14 October, the Flemish Government approved in principle such preliminary draft Programme Decree.
Accordingly, whoever buys a single and own home in Flanders to live in, will pay half as much registration fees from 2022 onwards: 3 percent instead of 6 percent. The portability of the registration duties will be phased out by 2024. The lower registration duties rate is expected to allow, among others, young buyers and families to acquire their own homes with less capital.
On the other hand, the general duties rate will increase from 10 to 12 percent, including for the purchase of a second home. In so doing, the Flemish Government intends first and foremost to prevent the further overheating of the housing market in Flanders. It also results in the ‘upfront’ 2% skimming of the potential added value for investors in real estate, thereby impacting ‘asset deals’ on all real estate asset classes.