Real estate promotion

On January 1^st, 2022, the law regulating the construction and sale of dwellings to be built or under construction, better known as the “Breyne Law”, celebrated the 50^th anniversary of its coming into force. This law, which is said to have been hastily passed following the resounding bankruptcy of the Belgian developer ETRIMO, is an important milestone in the security of turnkey real estate sales in Belgium. It is still invoked every day in real estate disputes and remains more relevant than ever.

The Breyne law extends to many real estate construction phenomena. It covers agreements which, cumulatively:

• have as their object a dwelling to be built or in the process of being built located in Belgium (including the sale of a dwelling with an undertaking to convert or extend it);
• are aimed at providing the purchaser or the owner with a completed family home (“turnkey”);
• which involve pre-financing of the construction by the purchaser or the owner.

The scope of application of the Breyne law is very broad, since the law aims to offer future home buyers greater protection.

To achieve this objective, the legislator has chosen to oblige the parties to include certain mandatory information in their contracts. It also obliges the seller to provide specific financial guarantees intended to protect the buyer in case of non-completion of the work, which is one of the key measures of the law.

If you would like more information about the Breyne law, please consult us and/or browse the news hereinbelow.