Housing Finance Policy

Text bolded/green below shows notes and variable definitions when you roll over. If you cannot see the notes, please download an Excel version from the Research Center, which includes notes. Also, a PDF featuring variable definitions is available in the document list under "Definition of Hofinet Variables".

 

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 lawCivil lawCivil lawA.1.1
Registration/Transfer of titles:A.1.3
Typical number of days needed for the transfer of title464646
WDI
A.1.3.4
Is there specialized legislation covering:A.1.9
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Are there subsidized funding sources for mortgage lenders?YesYesYesB.1.1
Government supported liquidity facilityYesYesYesB.1.1.2
B.2 Subsidies to Households
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Are there subsidies to households on housing finance?YesYesYes
SENAVITAT (CONAVI)
B.2.1
Down-payment subsidies YesYesYes
SENAVITAT (CONAVI)
B.2.1.3
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) YesYesYesC.1.1
Tax on capital gains on property YesYesYesC.1.5
Are there tax benefits on rental properties?Rental income earned by nonresidents taxed at 30% of 50% of the gross rent.Rental income earned by nonresidents taxed at 30% of 50% of the gross rent.Rental income earned by nonresidents taxed at 30% of 50% of the gross rent.C.2
back to top | Country Data:
Notes: 2010=100
Notes: 2010=100
Notes: Banks include BNF, Vision Banco.
Notes: Banks include BNF, Vision Banco.
Notes: Banks include BNF, Vision Banco.
Notes: Banks include BNF, Vision Banco.
Notes: Banks include BNF, Vision Banco.
Notes: Calculated as % of households, not housing units, without electricity.
Notes: Calculated as % of households, not housing units, without electricity.
Notes: Calculated as % of households, not housing units, without electricity.
Notes: Calculated as % of households, not housing units, without electricity.
Notes: Capital gains tax on non-residents of 30%. Tax base of property typically around 50% of property value.
Notes: Capital gains tax on non-residents of 30%. Tax base of property typically around 50% of property value.
Notes: Capital gains tax on non-residents of 30%. Tax base of property typically around 50% of property value.
Notes: Information as of January 2014
Notes: National Percentage
Notes: Private credit bureau - Informconf and public credit bureau - CRC.
Notes: Private credit bureau - Informconf and public credit bureau - CRC.
Notes: Private credit bureau - Informconf and public credit bureau - CRC.
Notes: Private credit bureau - Informconf and public credit bureau - CRC.
Notes: Private credit bureau - Informconf and public credit bureau - CRC.
Notes: Tax of 1% levied on cadastral value of property as determined by the national cadastre service (based on market prices).
Notes: Tax of 1% levied on cadastral value of property as determined by the national cadastre service (based on market prices).
Notes: Tax of 1% levied on cadastral value of property as determined by the national cadastre service (based on market prices).
Notes: The IDB has provided a loan of $30 million to finance a home and neighborhood improvement program. Serves as very small source of outside funding compared to deposits.