- Daily & Weekly newsletters
- Buy & download The Bulletin
- Comment on our articles
Buying Real Estate: Free seminar at ING Marnix on 19 March
Joining the property market can be thrilling, but also supremely stressful. If it’s already complicated for Belgians - who rarely buy more than one property in their lifetime – then it’s even more of a puzzle for other nationals.
That’s why it pays to be prepared before you enter the ring. And it’s why the Bulletin teams up with the ING bank to run events offering practical advice on buying a property in Belgium. Listen to a panel of experts, including an estate agent, a notary and ING’s head of expats Dave Deruytter.
He explains why Belgium’s property market remains relatively stable. “Local banks typically do not lend money if more than a third of the regular monthly income of the borrower is, or will be, used for the repayment of debts. Tax on purchase of real estate is very high with a headline figure varying between 10 and 15% for existing property and 21% for new buildings. Finally, rent prices are not very high because the rent market is not very large given that the typical Belgian will rather own his house than having to rent it,” says Deruytter.
One reason why people are tempted to own their own home is that the cost of property is considered to be relatively cheap compared to other European countries. Be aware, though, that prices in Brussels are 70% higher than the rest of Belgium. A notaries report published earlier this year said that a typical home in Brussels sold for €375,000 in 2017, compared with €200,000 nationwide. After an 8.6% boost in Brussels property sales in 2016, last year was a quieter one, with the volume of sales down 0.2%, according to the study.
So before taking your first step on Belgium’s property ladder, sign up for the free seminar here, which is followed by a networking reception.
Speakers: Kristien Viaene, CEO Noa Real Estate on ‘The latest trends in property purchases’; Alexis Lemmerling, notary Berquin on ‘How the notary will protect you and your property’; Dave Deruytter, head of expatriates and non-residents ING Bank on ‘Buying private real estate in Belgium, financing, insurance and taxation issues’.
March 19, 18.00-20.30 (registration 17.30)
ING Marnix Auditorium, 1 Rue du Trône, 1000 Brussels