Belgium Real Estate
Belgium is a very favorable location, known as the “heart of Europe”. Situated on the North Sea, Belgium has a reputation for being a safe, picturesque, and a prosperous place to live. Belgium is incredibly accessible; there are 30 international airports, 7 major ports, it is ideally situated for trade. Belgium is a tiny country, but it’s a pretty amazing place. Economically, Belgium is great at balancing trade with taxes on imports, and their 3 official languages have helped to build a uniquely diverse culture.
The capital of Belgium, Brussels, is the largest city in the country and a global hub of science, education, and culture. Brussels is the capital of Belgium, and the largest city in the country. It’s a global hub for art, science, and culture, and is a popular destination for new residents. With a relatively low cost of living and a high quality of life, it’s an attractive location for people from neighboring countries who want to reduce housing and living costs. Educational opportunities are abundant in Brussels, with a multitude of performing arts and an expansive selection of international cuisine.
Just like other countries, Belgium has different regions that are more or less desirable. Buying in Brussels, the capital of Belgium, is more expensive because it’s an attractive city to live in. Other regions combine affordable areas with areas that are very expensive, so it might be difficult to get the perfect place near schools or amenities. You should also be aware of the Belgian government laws on buying property.
The Belgian government has laws that make it difficult for non-EU residents to buy. When purchasing a static property in Belgium (https://www.bluehomes.com/Immobilien-Belgien/B/de/debut.html), you will have to make a minimum purchase of 250,000 euros. There are also restrictions when buying “rundown” properties, which are unsaleable renovated properties, in need of major repairs due to serious damage and neglect. It is still possible for buyers of “rundown” properties to get long term credit: for example, they can get a loan from social mortgage lenders or get a personal loan from a bank or institutional investor.
Buyers need to be aware that if they purchase rundown property, they will either need to increase their budget, or get a mortgage loan of over €100,000. A buyer might also need to plan to set aside a year’s worth of savings for some uninsured property repairs.
A friend of mine, Karl, had plans to relocate to Belgium after he had heard the news of Brexit. Karl had always wanted to live in Belgium because of the lower property tax rate. But before he makes the move, he wants to take a closer look at the cost of living. Karl knew he would lose some money by moving to Belgium due to the Brexit. But when he saw the higher cost of living, he realized it would actually be a much greater cut in his living expenses.