Kingdom of Belgium. A country of headquarters and representative offices, diamond business and a dozen nationalities, in which three official languages get along. As the residents of the country joke, "Belgians do not exist in nature." Not only the mentality of the Belgians is diverse, but also the nature of the country. Sand dunes in the north are replaced by plains and fertile arable lands of Flanders, and in the south the low but majestic Ardennes mountains are dotted with winding serpentines of roads connecting the villages of Wallonia.
Kingdom of the Netherlands. The very name of the state contains the main characteristic of its relief – "low lands". Indeed, about half of the country's territory lies below sea level, hence the saying reflecting the diligence of its inhabitants: "God created the sea, and the Dutch created the shores." The coastal lands seemed to have been neatly cut by Gulliver into quadrangles, the boundaries of which were channels with seemingly toy bridges. Futuristic glass and metal buildings, medieval windmills and literally meadows of tulips and crocuses organically coexist on these islands today.
The Grand Duchy of Luxembourg. Letzeburger is the name of a resident of this tiny property, consisting of 90% of small towns. Located next to influential Germany, France and Belgium, Luxembourg has managed to become one of the most powerful centers of the financial world – about 200 banks have their representative offices in this country. It is not surprising that banking and financial services have become the main activity of almost 0.5 million people. As a result, an enviable indicator of the well–being of its residents is 68,900 euros per capita per year. As the proverb says, "it's good to be born in Brussels, to live in Paris, and to grow old in Luxembourg." It's hard to disagree with this.
Four, three... one!
According to the current investment attractiveness rating compiled by the Global Property Guide consulting company, among the Benelux countries, the Belgian real estate market is developing most actively – 4 points out of five possible. As the main reason, experts cite a radical change in the political weight of the country, which led to a general economic recovery, which was expressed, among other things, in the receipt of foreign investments in non-residential fund. Additional favorable factors that led to an increase in construction in the residential sector were the influx of working people from neighboring countries, as well as a long period of low interest rates on loans, although they increased slightly in 2007 and are now 4.7%. Compared with 1993, the increase in the value of private houses amounted to 165%, apartments – 129%.
The Dutch market is characterized by relatively less activity, where the capital gain invested in real estate is on average 6% per year. However, this growth cannot be called uniform. If the market grew by 5% in the first three months of 2007, then another rather long lull came. The reason for this is the rise, as in Belgium, of mortgage interest rates, especially on short–term loans (from 3.88% to 4.74%) and on loans with floating interest rates. Moderate rental yields, amounting to 4.5–5% per annum in the whole country, with the exception of Amsterdam and The Hague, and the low construction rates characteristic of recent years, allowed experts to assess the investment climate of the Netherlands as moderately favorable – 3 points out of five.
In Luxembourg, a country that has achieved absolute well-being and prosperity, the main direction of development is the strengthening of the social sphere. Legislation that primarily protects the interests of tenants, small rental income, progressive taxation of owners, the immediate neighborhood with countries where real estate is cheaper, the impossibility of acquiring it by a non–resident who is an individual - all these factors together explain the low investment rating of the real estate market in Luxembourg. As a result – 1 point out of five. However, the state is hardly interested in buying real estate by foreigners.
Brussels, Antwerp, Liege
Housing prices in Brussels, as befits a true capital, are higher than in the whole country. Primary housing in an apartment building is offered at a price of 2300 euros per 1 sq. m, the final cost, taking into account the arrangement, will increase by another 15-20%. As a result, a two-room apartment with a living room and a bedroom, equipped for an office, in the center of Brussels, with an area of 100 sq. m. m cost about 250,000 euros. Such apartments have been in great demand in recent years for representative offices of foreign companies. In the half-million-strong port of Antwerp, also known as the world center of the diamond industry and trade, the price for an object of the same class will be 20-30% lower.
Two-storey (Duplex) apartments are also very popular in European cities, the cost of which in Brussels is about 3,300 euros per 1 sq. m. The most promising investments include attic, often duplex apartments. Especially interesting are apartments in houses built at the end of the XIX century, with their high ceilings, from 3.5 m. Prices for them in the capital, as a rule, do not exceed 2000 euros per 1 sq. m, with the size of objects from 150 sq. m. With additional investments in the reconstruction and design of the premises, such objects can become truly exclusive, having good demand among tenants.
Although Belgium is not one of the traditionally resort countries, it still has its own oasis of elite tourism. The balneological resorts of the province of Liege, located in the Ardennes, are known all over the world. The most famous of them is the Spa town, with its thermal springs, which initially served as a resting place for the racers of the Spa–Francorchamps circuit and then became one of the most fashionable resort places among both the Belgians themselves and their neighbors. The name of the city, as you know, has become a household name, synonymous with the resorts of healing waters.
In addition to the Spa, other Belgian resorts on the waters are also popular – Trois-Ponts, Theux and Stavelot. Like the Spa, they are located just 100-120 km southeast of Brussels. The usual real estate offers for these resorts are private brick houses with an adjacent territory of about 500-1000 sq. m. Their price, depending on the general condition, ranges from 2000-2600 euros per 1 sq. m. For example, for a house in the Spa center built in 1927 using half–timbered technology, having a total area of 150 sq. m, three level and a plot of 200 sq. m, asking for 285,000 euros. Needless to say, such an object is ideal for investment with the purpose of subsequent rental. For a week of rest in a similar house in the Spa, you can get 650-1300 euros, depending on the season. A little cheaper is a typical private housing in the neighboring province of Namur. For example, in the "Divine Valley" – which is how the name of the city of Dinan, which preserves the spirit of a medieval abbey, is translated – for the same price you can buy a private house built in the 1990s with an adjacent territory of 1000 sq. m.
Amsterdam, The Hague, Zealand
Executive apartments with an area of 70 sq. m. apartments in the Jordaan quarter, one of the central and oldest in the capital, will cost an order of magnitude higher than the average in the city – 350,000 - 400,000 euros. No less popular are designer studio apartments in the port district, notable for magnificent views of the canals from huge, full-length windows. The price for a two-room apartment with an area of 120 sq. m. m ranges from 500,000 - 600,000 euros, which corresponds to about 4,500 euros per 1 sq. m. If we talk about more affordable standard housing, its cost will be lower. For example, a one-bedroom apartment in a multi-storey panel house built in 1965, in the Sloterpark area, with an area of 75 sq. m, will already cost 175 000 euros.
In The Hague, the capital of the province of South Holland, despite its status as an international legal center and the fact that the country's parliament and the residence of Queen Beatrix are located here, real estate prices are significantly inferior to those of the capital. So, in the center of The Hague, you can buy a 2-3-room apartment for 250,000 - 300,000 euros. The same order of prices in the port of Rotterdam and student Utrecht.
Located in the southwest of the country, the province of Zeeland, which translates as "sea country", consists entirely of peninsulas and islets. This is a traditional holiday destination of the Netherlands. Especially popular is the region of Fire (Veere), all along the coastlines of which are scattered colorful houses for rent. The weekly cost of living in a house designed to accommodate a company of 6-8 people can vary from 350 to 1500 euros depending on the season, while all operating costs are paid by the tenant additionally. Buy a private house with an area of about 100 sq. m. m with a plot of up to 1000 sq. m. m in Zealand is possible for 200,000 - 350,000 euros.
Luxembourg
According to a study published by the European Statistical Agency Eurostat in early 2008, Luxembourg is second only to London in the ranking of the wealthiest regions of the European Union, having given the long-term primacy only two years ago. Real estate is one of the most important indicators of the well–being of citizens, and it is not surprising that this market in Luxembourg is stable and has high prices.
The annual increase in the value of capital invested in real estate is small – only 2-2.5% per annum, while its value is very high. In the prestigious central district of Luxembourg Belair(Belair) executive apartments with an area of 115 sq. m. m will cost 1.25 million euros, which corresponds to 9000-12 000 euros per 1 sq. m. However, in the suburban areas of Merl and Limpertsberg, typical two-bedroom apartments with an area of 80 and 95 sq. m are sold at a price of 400,000 and 520,000 euros, respectively.
In the south of the country, the cost of apartments is no more than 3000 euros per 1 sq. m. For example, a two-storey apartment with an area of 110 sq. m. m in the city of Esch-sur-Alzette (Esch sur Alzette), located in close proximity to the French border, will already cost 250,000 euros. In Luxembourg, the sale of housing stock objects under construction is actively practiced. At the same time, it should be borne in mind that the prices for a new building are higher than those given, since, along with modern architectural solutions and, as a rule, open terraces with an area of up to 50 sq. m, which increase the cost of the object, the final price often includes the installation of additional equipment, such as air conditioning systems or built-in kitchens.
