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)Common lawCommon lawCommon lawA.1.1
Registration/Transfer of titles:A.1.3
Does the law clearly define different types of property rights?YesYesYesA.1.3.1
 Are property rights easily transferable?YesYesYesA.1.3.2
Typical number of days needed for the transfer of title323247
WDI
A.1.3.4
Are there disclosure requirements for mortgage lending?YesYesYes
Various commercial banks
A.1.8
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
Special government lines of credit YesYesYesB.1.1.1
Loss and/or cash flow guarantees for RMBSYesYesYesB.1.1.5
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) YesYesYesC.1.1
Property transaction taxes (purchase/selling)YesYesYesC.1.2
Tax on capital gains on property NoNoNoC.1.5
back to top | Country Data:
Notes: 94% of the poor live in owner-occupied housing. This number is used instead of the 88% non-poor owner-occupied value because more than 40% of the country lives in homes unfit for humans according to the IMF.
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Acquisition of Property = House & Land Purchases + Home Construction & Renovation
Notes: Assumption made that typical LTV corresponds to requirements set by ECHMB that must be met in order to be eligible for major lenders to sell their mortgages.
Notes: Assumption made that typical LTV corresponds to requirements set by ECHMB that must be met in order to be eligible for major lenders to sell their mortgages.
Notes: Assumption made that typical LTV corresponds to requirements set by ECHMB that must be met in order to be eligible for major lenders to sell their mortgages.
Notes: Assumption made that typical LTV corresponds to requirements set by ECHMB that must be met in order to be eligible for major lenders to sell their mortgages.
Notes: Government funds--small portion of total mortgage lending when compared to total commercial bank lending.
Notes: Government funds--small portion of total mortgage lending when compared to total commercial bank lending.
Notes: Government funds--small portion of total mortgage lending when compared to total commercial bank lending.
Notes: Government funds--small portion of total mortgage lending when compared to total commercial bank lending.
Notes: Government funds--small portion of total mortgage lending when compared to total commercial bank lending.
Notes: Government funds--small portion of total mortgage lending when compared to total commercial bank lending.
Notes: Grenada Development Bank is a non-depository, government-owned bank that offers a wide range of loans that promote business development, home ownership, education, etc. It has been in existence since 1965.
Notes: Tax of 0.2% on land value and 0.3% on structure value.
Notes: Tax of 0.2% on land value and 0.3% on structure value.
Notes: Tax of 0.2% on land value and 0.3% on structure value.
Notes: Tax of 0.2% on land value and 0.3% on structure value.
Notes: Tax of 0.2% on land value and 0.3% on structure value.
Notes: Tax of 0.2% on land value and 0.3% on structure value.
Notes: Tax of 5% on value of property for citizens selling property.
Notes: Tax of 5% on value of property for citizens selling property.
Notes: Tax of 5% on value of property for citizens selling property.
Notes: Tax of 5% on value of property for citizens selling property.
Notes: Tax of 5% on value of property for citizens selling property.
Notes: Tax of 5% on value of property for citizens selling property.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB, while it possesses no legal mandate for underwriting standards, serves as a de facto standard-setter. That is, they have specific underwriting requirements that need to be met in order to be eligible for purchase by the ECHMB.
Notes: The ECHMB's mission is to "provide maximum liquidity to the mortgage market" by purchasing and selling mortage loans from primary lenders in order to facilitate the secondary mortgage market. This functions as a cash flow guarantee to primary lenders.
Notes: The ECHMB's mission is to "provide maximum liquidity to the mortgage market" by purchasing and selling mortage loans from primary lenders in order to facilitate the secondary mortgage market. This functions as a cash flow guarantee to primary lenders.
Notes: The ECHMB's mission is to "provide maximum liquidity to the mortgage market" by purchasing and selling mortage loans from primary lenders in order to facilitate the secondary mortgage market. This functions as a cash flow guarantee to primary lenders.
Notes: The ECHMB's mission is to "provide maximum liquidity to the mortgage market" by purchasing and selling mortage loans from primary lenders in order to facilitate the secondary mortgage market. This functions as a cash flow guarantee to primary lenders.
Notes: The ECHMB's mission is to "provide maximum liquidity to the mortgage market" by purchasing and selling mortage loans from primary lenders in order to facilitate the secondary mortgage market. This functions as a cash flow guarantee to primary lenders.
Notes: The ECHMB's mission is to "provide maximum liquidity to the mortgage market" by purchasing and selling mortage loans from primary lenders in order to facilitate the secondary mortgage market. This functions as a cash flow guarantee to primary lenders.
Notes: Values from 2007-2015 include commercial bank totals along with totals from Grenada's Development Bank. Years before then only include commercial bank data from the ECCB.
Notes: Values from 2007-2015 include commercial bank totals along with totals from Grenada's Development Bank. Years before then only include commercial bank data from the ECCB.
Notes: Values from 2007-2015 include commercial bank totals along with totals from Grenada's Development Bank. Years before then only include commercial bank data from the ECCB.