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Europe and Central Asia

Housing Finance Policy

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A. Legal and Regulatory Framework
- A.1 Legal and Regulatory Framework
B. Housing Finance Subsidies
- B.1 Subsidies to Housing Finance Institutions
- B.2 Subsidies to Households
C. Taxation

A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework

Variable	End of 2016	End of 2015	End of 2014	Sources	Var ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)	Civil law	Civil law	Civil law	Law and Technology Resources for Legal Professionals	A.1.1
Are there specific laws that deal with mortgages?	yes	yes	yes	Law of the Republic of Belarus, p0=H10800345e	A.1.2
Registration/Transfer of titles:					A.1.3
Are property rights easily transferable?	yes	yes	yes	Law of the Republic of Belarus, p0=H10800345e	A.1.3.2
Typical number of days needed for the transfer of title	3	3	4	WDI	A.1.3.4
Are there consumer rights for mortgage lending?	yes	yes	yes	Law of the Republic of Belarus, p0=H10800345e	A.1.7
Is there specialized legislation covering:					A.1.9
Issuance of covered mortgage bonds	yes	yes	yes	Law of the Republic of Belarus, p0=H10800345e	A.1.9.1

B. Housing Finance Subsidies

B.1 Subsidies to Housing Finance Institutions

Variable	End of 2016	End of 2015	End of 2014	Sources	Var ID
Is the lending side of the housing finance system subsidized?	Yes	Yes	Yes	World Bank Group - Belarus	B.1.2
Guarantees for mortgage loans	Yes	Yes	Yes	World Bank Group - Belarus	B.1.2.2
Other	Yes	Yes	Yes	World Bank Group - Belarus	B.1.2.3

B.2 Subsidies to Households

Variable	End of 2016	End of 2015	End of 2014	Sources	Var ID
Are there subsidies to households on housing finance?	yes	yes	yes	IMF	B.2.1
Interest rate subsidies by special government funds	yes	yes	yes	IMF	B.2.1.1
Down-payment subsidies	yes	yes	yes	IMF	B.2.1.3
Reach of subsidies in 2.1.1 to 2.1.4 ?					B.2.2

C. Taxation

Variable	End of 2016	End of 2015	End of 2014	Sources	Var ID
What taxes apply to Residential Real Estate?					C.1
Are there tax benefits on rental properties?	Small revision made to law in previous year titled "On Amending and Modifying Certain Laws of the Republic of Belarus on Entrepreneurial Activities and Taxation" going into effect January 1, 2016	A new law created on January 1, 2015 that provides exemption from VAT of the turnovers on the lessors' transactions involving transfer of the leasing item to the natural persons		National Bank of Republic of Belarus	C.2

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