Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Mixed system of civil law, common law, and customary lawMixed system of civil, common, and customary law Mixed system of civil, common, and customary law A.1.1
Are there specific laws that deal with mortgages? yesyesyes
Immovable Property Act
Registration/Transfer of titles:A.1.3
Does the law clearly define different types of property rights?yesYes Yes A.1.3.1
 Are property rights easily transferable?yes  A.1.3.2
Identify barriers to the registration/ transfer of property title.The process to convert land that is designated as "tribal" to "common law" land has been cited as a problem to register property to become eligible for mortgage lending. Regulations about land use management such as building permits and related procedures are also considered unduly onerous and bureaucratic, and need to be reformed.   
CAHF Yearbook 2015
Typical number of days needed for the transfer of title121212
Is there specialized legislation covering:A.1.9
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Is the lending side of the housing finance system subsidized?yes  
CAHF Yearbook 2015
B.2 Subsidies to Households
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
What taxes apply to Residential Real Estate?C.1
Tax on property (home-owners) No  C.1.1
Property transaction taxes (purchase/selling)No  C.1.2
Tax on capital gains on property No  C.1.5
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Notes: 2010 = 100
Notes: 2010 = 100
Notes: 40-45% for commercial banks, lower for BBS and other quasi-governmental organizations (25%)
Notes: BBS uses hybrid retail and government funding
Notes: CAHF 2015 page 37: Seven commercial banks and three statutory banks
Notes: Select Africa is making headway into Botswana microfinance industry for home improvements and home related construction Select Africa receives funding through direct payroll deposits and through external funding eg. the Soros Economic Development Fund