Buying a property in Brussels becomes cheaper thanks to new tax break

The Brussels Region has given the green light to the reduction of registration fees when buying a home, reports RTBF.

This updated ‘discount’ on registration fees applies to the first €200,000 instead of the current sum of €175,000.

There’s also an additional reduction for new owners who thoroughly renovate the energy performance of their home. For each increase of energy class, an additional €25,000 euros is exempt from registration fees.

Finally, the Brussels Region is increasing the ceiling for eligibility for the discount from €500,000 to €600,000.

The draft law by finance minister Sven Gatz (Open VLD) received majority backing by the Brussels parliament. The opposition abstained with the exception of the N-VA, which voted against it.

According to Gatz, the reform will cost a total of €30-40 million, but the measure is budget neutral due to the increasing revenue from registration fees.

Brussels residents who want to benefit from the discount must reside in the building in question within two years. For the applicants of the energy renovation reduction, they have to live in the home within five years.

Photo: Batibouw building, renovation and decoration fair 2022 © Belga/Hatim Kaghat