A. Legal and Regulatory Framework
A.1 Legal and Regulatory Framework
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Basis of the legal system: Civil, Common, Islamic, Other? (Describe) | Civil | Leganet.cd | A.1.1 | ||
| Are there specific laws that deal with mortgages? | Yes | Leganet.cd | A.1.2 | ||
| Registration/Transfer of titles: | A.1.3 | ||||
| Does the law clearly define different types of property rights? | Yes | Leganet.cd | A.1.3.1 | ||
| Are property rights easily transferable? | No | World Bank | A.1.3.2 | ||
| Identify barriers to the registration/ transfer of property title. | Registering a property is a very long and costly process in DRC. According to the 2017 World Bank study, 'There are three major phases in initial land registration: obtaining the lease agreement, the concession agreement, and then the certificate of registration. Urban areas have 27 stages for obtaining a certificate of registration and 16 stages for even a simple transaction. An application for a certificate of registration must follow the same path twice to obtain a lease agreement and then a concession agreement. Various charges must be paid on three different occasions, and three field visits must be organized. Checks are made systematically, requiring many return trips within the registration division area. The applicant must navigate an obstacle course involving many administrative departments. Once this procedure has been completed, there is another round for selling or dividing the certified lot.' | World Bank | A.1.3.3 | ||
| Typical number of days needed for the transfer of title | 38 | 44 | WDI | A.1.3.4 | |
| Is there specialized legislation covering: | A.1.9 | ||||
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Are there subsidized funding sources for mortgage lenders? | No | Editor | B.1.1 | ||
| Special government lines of credit | No | Editor | B.1.1.1 | ||
| Government supported liquidity facility | No | Editor | B.1.1.2 | ||
| Labor or other tax funds for mortgage lending | No | Editor | B.1.1.3 | ||
| Tax breaks on mortgage bonds or RMBS | No | Editor | B.1.1.4 | ||
| Loss and/or cash flow guarantees for RMBS | No | Editor | B.1.1.5 | ||
| Other | No | Editor | B.1.1.6 | ||
| Is the lending side of the housing finance system subsidized? | No | Editor | B.1.2 | ||
| Shared credit risk through public/private mortgage insurance | No | Editor | B.1.2.1 | ||
| Guarantees for mortgage loans | No | Editor | B.1.2.2 | ||
| Other | No | Editor | B.1.2.3 |
B.2 Subsidies to Households
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| Are there subsidies to households on housing finance? | No | Editor | B.2.1 | ||
| Interest rate subsidies by special government funds | No | Editor | B.2.1.1 | ||
| Buy-down of monthly/interest payments | No | Editor | B.2.1.2 | ||
| Down-payment subsidies | No | Editor | B.2.1.3 | ||
| Subsidies to savings for mortgage loans | No | Editor | B.2.1.4 | ||
| Mortgage interest deductibility from income tax | No | Editor | B.2.1.5 | ||
| Other | No | Editor | B.2.1.6 | ||
| Reach of subsidies in 2.1.1 to 2.1.4 ? | B.2.2 | ||||
C. Taxation
| Variable | End of 2018 | End of 2017 | End of 2016 | Sources | Var ID |
|---|---|---|---|---|---|
| What taxes apply to Residential Real Estate? | C.1 | ||||
| Tax on property (home-owners) | Yes | Direction Generale des Impots | C.1.1 | ||
| Property transaction taxes (purchase/selling) | Yes | PwC | C.1.2 | ||
| Tax on capital gains on property | Yes | Direction Generale des Impots | C.1.5 | ||