Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Civil law systemCivil law systemCivil law systemA.1.1
Registration/Transfer of titles:A.1.3
Does the law clearly define different types of property rights?YesYesYesA.1.3.1
Typical number of days needed for the transfer of title444
Doing Business
A.1.3.4
Are there legal constraints on the types of mortgage products that are permitted?YesYesYesA.1.5
Is there specialized legislation covering:A.1.9
Issuance of RMBSYesYesYesA.1.9.2
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
B.2 Subsidies to Households
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Are there subsidies to households on housing finance?YesYesYesB.2.1
Interest rate subsidies by special government fundsYesYesYesB.2.1.1
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
What taxes apply to Residential Real Estate?C.1
Tax on property (home-owners) Yes  C.1.1
Property transaction taxes (purchase/selling)YesYesYesC.1.2
Tax on capital gains on property Yes  C.1.5
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Notes: 1 ping = 3.305 sq.mt
Notes: Building tax - annual tax of 1.2-2% of current value for residential properties Land value tax - land for residential use is taxed at a flat rate of 0.2%
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Deed tax is applied on any transfer of a title, paid by the purchaser of the property. Exempt when LVIT applied (see capital gains tax comment). Current form of deed tax has been around since 1952.
Notes: Gains on sales of property are subject to the nation's progressive income tax Gains on sales of land are taxed under Land Value Increment Tax (LVIT) which varies from 20-40%
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: LTV ratio capped at 60% in June 2010 until significant amendment in August 2015 exempted certain metro areas. March 2016 the entire LTV cap was repealed. LTV ratio cap on very high value properties of 50% implemented in June 2010 changed to 60% in 2015--left unchanged in 2016.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Specific share of mortgage lending by commercial banks and state-owned commercial banks is unavailable, but both have been active lenders in the mortgage market according to IMF report since 2008.
Notes: Total dwelling units not made of steel, concrete, or brick, i.e. made of wood, bamboo, and stone.