Palais
New-build property in Schaerbeek

Payment for a property under construction is governed by the Breyne law: payments follow the actual progress of the works. At signing, you pay a deposit (5% maximum) as well as the price of the land, calculated according to your share of the co-ownership. The following installments are then paid progressively, in line with construction progress, never exceeding the value of the work already completed. In practice, you only pay for what has already been built. The balance is paid when the keys to your new apartment are handed over.

No impact for you. At the time of purchase, your loan is locked in, so your rate is locked in too. The bank makes the total amount available to you in an account, from which funds are withdrawn as construction progresses. You are therefore not exposed to changes in interest rates throughout the construction of your house or apartment.

If the construction is delayed in a way that prevents you from moving in on time, you can claim compensation from the developer. The terms and amount of this compensation are specified in the sales agreement.

Buying new apartments offers several advantages: • Legal security: the Breyne law governs off-plan sales and guarantees the buyer a series of protections for 10 years, even in the event of the developer's bankruptcy. • Performance: new properties comply with the latest construction standards, incorporate current technologies and offer better energy performance. • Reduced costs: triple glazing, photovoltaic panels and enhanced insulation reduce your costs from day one. • Customization: you can make choices about the layout and finishes of your home. • Favorable taxation: possibility of benefiting from 6% VAT under certain conditions.

The Breyne law provides several guarantees and mechanisms that protect the buyer of a property under construction: the certainty of receiving a completed property (completion guarantee) and one free of defects (guarantee against hidden defects, as well as a ten-year guarantee extended to the seller or developer).

No, this reduced rate is subject to conditions: the property must be your primary residence, comply with a limited surface area, and be part of a demolition/reconstruction operation. For a rental investment, the 6% rate may also apply, subject to certain conditions related to renting out the property. As Palais is a demolition-reconstruction project, the new apartments may benefit from a reduced 6% VAT rate, subject to meeting the eligibility conditions. To find out whether you qualify, please ask your We Invest new-build advisor.