The year 2023 brought mainly a focus on tightened renovation requirements, but what about (re)building in 2024? Let's take a look at the most notable changes and enduring trends relevant this year.
Energetic Renovation Remains Rewarded
Both Flanders, Wallonia and the Brussels Capital Region remain committed to energy renovations. Roadmaps towards 2050 were already formulated in 2023. Moreover, various premiums are available for renovation and energy-saving works, such as the RENOLUTION premiums in Brussels and the Primes Logement in Wallonia. In Flanders, the Mijn Verbouwpremie remains available in 2024 as well, under the same conditions as in 2023.
Demolition and Reconstruction: VAT Reduction Remains
Good news for those looking to demolish an existing home and replace it with a new construction project: the VAT reduction from 21 to 6% will remain in place in most circumstances. This is a welcome financial aid for prospective builders.
Extra Premium for Asbestos Removal and Insulation in Flanders
In Flanders, in 2024 you will receive an additional premium of 8 euros per m2 when you make your home asbestos-free and combine this with insulation of exterior walls, roof or floors. This scheme will run at least until the end of 2025.
VAT on Heat Pumps remains 6%
Good news for investors in heat pumps: the 6% VAT rate continues to apply to homes less than ten years old. A VAT reduction from 21 to 6% still applies to homes older than ten years.
Flemish Premium for Solar Panels Disappears Accelerated
Unfortunately, financial support for solar panels in Flanders is rapidly disappearing. From 2024, there will no longer be a Flemish premium available, which is a change from previous years.
Reduced Filing Costs at Mortgage Loan Closing
From 2024, banks will be allowed to charge a maximum of 350 euros in handling fees when taking out a mortgage loan. For refinancing, this ceiling will drop to 175 euros.
New Premium for Flemish Apartment Residents
Owner-occupiers of apartments can apply for an additional premium within the Flemish Mijn Verbouwpremie (My Renovation Premium) from spring 2024. This premium is aimed at the energetic renovation of common parts within the apartment building.
Conclusion
2024 brings a mix of continuity and change for (re)builders. While certain premiums remain in place and VAT rates remain stable for some aspects of building and renovation, financial support for solar panels in Flanders is gradually disappearing. It is important for (re)builders to stay abreast of these developments and make optimal use of available financial benefits when planning their projects.
