Long lease (emphyteusis)

Emphyteusis is a real right that gives its holder (the leaseholder) full use and enjoyment of a property owned by someone else. Since 1 September 2021, it has been governed by Book 3 of the Civil Code. It lasts at least fifteen and at most ninety-nine years. A fee, called the canon, is often agreed, but the law no longer requires one. The leaseholder may build, plant, transfer and mortgage their right, and pays the charges and taxes on the property. When the right ends, the buildings pass to the landowner, who must in principle compensate the leaseholder. This system is used notably by public authorities, CPAS/OCMW and some developers to make housing more affordable: the buyer only buys the building, not the land, which lowers the price.