It turned out that property prices on the Belgian coast tends to fall. Does this mean that you need to have time to buy the best apartment by the sea?
Who has long dreamed of owning a property on the coast, begins to realize his desires. Last year, the average price of apartments in such areas reached €216,500, which is 2.5% less than in 2017. And for now, prices continue to fall, The Brussels Times reports. The only corner of Belgium where the figure on the contrary increased – Zeebrugge, an increase of 18.8%. Most of all the figure fell in Blankenberg – 10.7% and in Nieuwpoort – 9.1%. Separately I would like to mention Ostend and Knokke-Heist, these cities account for 40% of transactions, but they caught up with the trend of falling prices by 0.3% and 1.2% respectively.
The cheapest place to buy an apartment is in Middelkerke Westend, and if you are inclined to invest in luxury properties, you should look at Newport, it is realistic to buy an apartment for € 250,000. Good options in Knokke-Heist, where the apartment price reaches € 368,400. Moreover, the Belgian tax system is not so “terrible” as it seems at first glance.
Economy class real estate is concentrated in De Panne and Blankenberg. From these places it is advantageous to travel anywhere in Belgium. You will have to pay about €175,000 for an apartment there.
Obviously, the objects located directly on the waterfront, are much more expensive than those built in the hinterland, such as Knokke-Heist. The price difference between them sometimes reaches €245,000. But on average, an apartment by the sea is more expensive by €30,000. Check out also the areas of Brussels, where the locals are always happy to see foreigners.
Experts believe that the drop in prices is due to the impressive number of older properties on the market. Demand rose by 0.6% just for new apartments and houses on the coast. Investors are not embarrassed by the cost of repairs, which is on average € 1,000 per “square meter”, so buyers are willing to invest in new buildings.