Property for Sale in Belgium

Location, climate, and economy

Belgium (officially the Kingdom of Belgium) is a country located in the northwestern part of Europe, on the North Sea, a member of the United Nations, the Council of Europe, NATO, the WTO, the Schengen and the Eurozone.

The climate is temperate maritime: mild, rainy winters, warm, humid summers, it is mostly cloudy. Snow is infrequent, as are frosts in winter.

The economy is, first of all, represented by services and trade, including the diamond trade. The following industry is also developed: chemical (fertilizers, dyes, pharmaceuticals, plastic products) and metal products, textiles, oil and oil products, cars, food products are produced. Currently, almost 80% of the electricity in the country is nuclear energy (two nuclear power plants). Branches of agriculture - crop production, animal husbandry, cheese production, and brewing.

Real estate market in Belgium

In the summer of 2022, experts stated that the number of real estate transactions in the country as a whole is somewhat reduced. At the moment, people want to buy residential real estate in Belgium a little less, the decrease in the number of transactions across regions is not uniform, somewhere there is an increase. In particular, in Brussels, sales are stagnant, but in East Flanders they have grown. In general, the overall decline in the country amounted to just over 10% compared to the previous year. The expert community believes that the following reasons contributed to this:

• mortgage loans are becoming more expensive for the population,
• rising energy prices,
• economic uncertainty becomes a significant factor.

Against this backdrop, real estate prices in Belgium remain high. In different provinces, they rose from 2.4% to 8% over the year. In Flanders, the average cost is 6% more than last year. But, if we take into account the inflation rate of 8%, then the real value of real estate in Belgium has even decreased slightly.

The specialists warn that if rental rates continue to rise, this could further cool the market. Nevertheless, real estate in Belgium is still attractive to foreign investors, as well as the country itself for investment and residence; demand is high, having a somewhat delayed character, since the economy and the market are affected by external force majeure circumstances that accelerate inflation. But they are transitory. Feedback from buyers of housing in the residential complexes confirms that the facilities being built comply with building standards.

Estimated price of real estate in Belgium

Residential real estate in Belgium costs 500-1200 euros/sq.m. It is cheaper than, for example, in Germany. The most inexpensive objects can be found in the province of Limburg, the most expensive - in the province of Brabant. Large luxury houses cost 890 thousand euros, apartments - 200 thousand euros. Given the high dynamics of price changes, it is necessary to use only information that is relevant at the time of the request.

Property types for sale

The following types are on the market:

• residential: apartments, houses, etc.,
• commercial fund (hotels, shops, warehouses, offices, etc.);
• land plots.

Real estate website in Belgium

The sale of real estate in Belgium is regulated in detail by legislation, transactions are transparent and safe, however, in order to minimize risks when concluding transactions, it is advisable to use the information of experts and follow their recommendations. The real estate website GEOLN.COM (with a convenient search interface) contains a catalog of real estate in Belgium with various objects for sale.

Buying property in Belgium by foreigners (nuances)

Non-residents have the same rights as citizens of the country, but you can purchase a land plot in Belgium on the condition that it will be subsequently built up. The acquisition of an object in ownership is not a basis for obtaining a residence permit, however, this is an additional weighty argument in favor of the buyer when considering the issue on other criteria (work, family reunification, etc.).

Investing in real estate in Belgium is a profitable investment project, as it gives you the opportunity to receive a constant rental income and to live in an EU country with a developed economy.