Belgian real estate is highly sought after by investors and expatriates alike. The country has a stable economy and a thriving property market.
Demand for Belgian property is particularly high in Brussels, the country’s capital. Property prices in Brussels are some of the highest in Belgium, but they continue to rise as the city becomes an increasingly popular destination for expatriates and businesses.
The Belgian coast is also popular with home buyers. The seaside towns of De Panne, Knokke-Heist, and Ostend are all popular destinations with investors and holidaymakers alike. Property prices here are more affordable than in Brussels, but they are still relatively high compared to other coastal towns in Europe.
If you’re looking for a family home or an apartment in one of Belgium’s main cities, prices can vary significantly depending on the region and type of property. There are also different rules and regulations that apply to buying properties in Belgium (https://www.bluehomes.com/Immobilien-Belgien/B/de/debut.html).
Purchasing real estate in Belgium
The Belgian legal system is complex, so it’s important to take professional advice when purchasing property in the country. It’s also advisable to work with a real estate agent who has expertise in dealing with foreign buyers – particularly expatriates looking for second homes or investment properties.
Belgian law gives all citizens the right of abode, meaning foreigners have just as much right to buy property in Belgium as Belgian nationals. However, there are some restrictions on the purchase of property by foreigners in certain areas.
It’s important to be aware that not all Belgian real estate is equally desirable. Some parts of the country – particularly rural areas – are less developed than others, and may not offer the same level of infrastructure and amenities that you would find in a city.
The following sections provide an overview of the Belgian property market, including details on prices, regulations, and what you need to do before making your purchase.
The Belgian property market
Belgium is a prosperous country with a stable economy. This has helped to create a thriving property market, with demand for both residential and commercial real estate continuing to grow.
The Belgian property market is divided into two main sections: the rental market and the sales market. The rental market is dominated by apartments, while the sales market features a mix of houses and apartments.
Belgian real estate prices are high compared to other European countries. In Brussels, the average price for an apartment is around €4,000 per square metre, while in coastal towns such as Knokke-Heist and Ostend, prices range from €1,500 to €2,000 per square metre.
However, prices are continuing to rise as demand for Belgian property increases. And with the country’s stable economy and thriving job market, Belgian real estate is likely to remain a popular investment choice for many years to come.
Buying a property in Belgium
If you’re thinking of buying a property in Belgium, it’s important to be aware of the country’s complex legal system. Belgian law is based on French civil law, so it can be difficult to understand if you’re not familiar with the language.
It’s advisable to seek professional advice from a lawyer or real estate agent who is familiar with the Belgian market. They will be able to help you through the process of purchasing property in Belgium, and will ensure that everything goes smoothly.
In addition to seeking legal advice, it’s also important to get your finances in order before making your purchase. Belgian banks are typically reluctant to lend money to foreigners, so you may need to open an account with a Belgian bank before applying for your mortgage.
You should also be aware that all house sales in Belgium are subject to the registration tax – known as notgeld. This is paid by the seller, and can range from 3% to 9% of the property’s market value.