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Gifting property increasingly popular at Christmas

More and more Flemings are giving away houses or building land as a present.  Belgian notaries report that donations of real estate are up 12% this year.

In all 14,500 properties or plots of building land were gifted this year across Flanders.

Christmas is a time for presents and it’s also a popular month in which to donate real estate.  Notaries say that real estate donations in December are five times higher than in other months.

Notary Bart Van Opstal sees several reasons why donating real estate is increasingly popular.  As a result of new Flemish inheritance laws people are able to donate more nowadays.  If you have children you can donate half your property. Moreover, if you inherit property it’s become cheaper for you to pass on this property to your children. 

Many Belgians are eager to pay as little tax as possible and prefer to donate rather than let their heirs pay sky high inheritance tax.