Buying real estate in Belgium: new-build houses and apartments
Purchasing a new house or an apartment in a new building in Brussels can be a great investment for expats moving to Belgium.
If you’re moving to Belgium for work, buying your own apartment allows you to put down roots in your new city, and with house prices still rising (albeit at modest levels), you could secure a great long-term investment that pays dividends even after you leave the country.
Johannes Degroote of the real estate developer Zabra explains some key things expats need to know when buying a new-build home in Belgium.
A new apartment in Brussels can be a great long-term investment
“As the home of the European Union and NATO, Brussels is very popular with international businesses”, says Johannes. “This means that many workers on short or medium-term assignments move here, with their employer usually arranging and paying for accommodation on their behalf.”
But what if you’re planning on staying in Brussels for longer? If you’re looking to settle in Belgium, “a new-build apartment could represent a great opportunity”, advises Johannes – and with no punitive laws in Belgium to put off foreign property purchasers, there is little standing in your way.
“Buying your own city pad means that you’ll be able to benefit from great location and top quality furnishings”, says Johannes, all with the knowledge that “should you decide to leave, you’ll be able to let the property out to another expat working in Brussels”.
When to buy new property in Belgium: purchasing an off-plan home
Developers (or their real estate agents) generally start marketing properties as soon as permits to build them have been granted. “When you visit a marketing office, as well as being able to visit an example show home, you should be able to view 3D images and models of the development”, advises Johannes.
New property taxes in Belgium
Most properties in Belgium are sold as freehold too, so you also won’t need to worry about paying any punitive taxes on the land while you’re living in your property.
Buying from Belgian developers can be cost effective
You’ll need to pay registration tax on the land, notary fees, insurance premiums and bills for land surveyors, energy surveys and stability surveys. With this in mind, “choosing a ‘turnkey’ option of buying a home directly from a developer can ease the stress of moving to a new property and ensure you end up living in a higher quality environment”, says Johannes. He concludes by emphasizing that many developers in Belgium use sustainable building practices: another advantage to buying a new property from the new generation of eco-conscious Belgian architects.
We are happy to help, advise and serve you. Do feel free to contact us !