News on the Brussels real estate market

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News on the Brussels real estate market

While remaining a safe bet for investors, the Brussels real estate market is changing and evolving. The Covid-19 epidemic is obviously not foreign to certain phenomena observed in recent months. Examples:

Prices stabilizing

In 2020, the volume of real estate sales in the Brussels Region fell by almost 5% compared to 2019. But the interest of buyers has not diminished, which has caused prices to rise sharply: +4.4% for houses and +8.1% for apartments over one year.

After this period of frenzy, the market seems to be slowly returning to more stability since September 2021. Supply and demand are beginning to rebalance, particularly because owners who had been waiting have decided to put their properties up for sale. As a result, prices are moving more reasonably and gradually.

A better quality of life

Confinitions and telecommuting have led many people to stay at home more and to look at their homes differently. As a result, the criteria for choosing housing has changed, and certain trends are taking hold.

First of all, being at home has become paramount and this has strengthened the sales market to the detriment of rentals. Second, buyers now place a high value on more living space, outdoor space, office space, etc. As telecommuting becomes more common and people spend more time at home, quality of life is a major concern.

More and more digitalization

Health restrictions have pushed notaries and real estate agents to become more digital in order to continue their activities. Virtual visits have multiplied, various documents and procedures (including deeds) have been dematerialized or carried out remotely, etc.

Contrary to what one might think, this digitalization has not signed the end of human relationships, on the contrary! It facilitates procedures and exchanges while bringing more transparency and satisfaction. Digitalization is also a way to adapt to today’s world and to the new expectations of customers. The pandemic has simply accelerated the transition…

Ixelles, Uccle and Saint-Gilles among the most popular communes

For several years now, Uccle and Ixelles have been among the most expensive and most sought-after communities in Belgium. Uccle is particularly attractive for its residential neighborhoods, its peace and quiet and its green spaces, while Ixelles is more urban but stands out for its services and its high quality of life.

Alongside these sure values, other corners of Brussels are in full emergence. This is the case of Saint-Gilles, which offers an attractive location near Ixelles and the center, beautiful buildings and dynamic neighborhoods. The appeal of Saint-Gilles is also beginning to spill over to its neighbors such as Forest.

 

Sources of the article:

https://www.notaire.be/nouveautes/barometre-des-notaires

https://statbel.fgov.be/fr/themes/construction-logement

https://www.lesoir.be/357157/article/2021-02-24/immobilier-bruxelles

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