Real estate reform: registration duties in Wallonia reduced to 3%

Jean-Marc Delcroix
11 December 2024

The Walloon real estate market is set to undergo a significant transformation with the introduction of a historic tax reform.
The Walloon Parliament has just approved a measure that will substantially reduce registration duties from 12.5% to 3% starting January 1, 2025.

New system to facilitate home ownership

This reform primarily aims to make home ownership more accessible, particularly for young buyers.
Indeed, the average age for purchasing a first property has increased from under 25 to over 35 years in recent years.

Eligibility conditions

The reduced rate of 3% will apply exclusively to the purchase of a primary and only residence.
Current homeowners can also benefit from this rate, provided they sell their existing property within three years of the new acquisition.

Impact on the real estate market

This reform is expected to significantly stimulate the Walloon real estate market.
Real estate experts anticipate an increase in demand, with the number of authentic deeds potentially rising from 125 to 200 per day by early 2025.

Elimination of existing measures

In exchange for this reduction, several existing schemes will be abolished.

The tax allowance for first-time buyers.
The housing bonus.
The reduced rate for modest housing.

Practical aspects for buyers

Future buyers can already begin their purchase process.
The signing date of the authentic deed, not the preliminary agreement, will determine the application of the new rate.
It is recommended to allow approximately four months between signing the preliminary agreement and the authentic deed.

Future prospects

This reform, representing a 700 million euros investment for the Walloon Region, demonstrates a strong political commitment to facilitating home ownership.
It could also influence real estate dynamics in neighboring regions, particularly in Brussels where registration duties remain at 12.5%.

This historic measure marks a turning point in Wallonia’s housing policy, offering new perspectives for future homeowners while reshaping the region’s real estate tax landscape.