Young people want to buy in Brussels - housing costs by area?
The number of transactions is also declining rapidly, but this phenomenon is common in many European cities, as notary Katrin Roggemann (Van Halteren Research) points out. "Whether in the Netherlands or in France, everyone is waiting for interest rates to stop rising and for construction costs to come down or at least stabilize. But this is not happening yet because of the known inflation over the last two years due to the international crises. "
The notary does not claim, however, that potential buyers have lost interest in real estate. "It depends of course on the neighborhood, but we see that young people want to buy. They are facing high prices in the Pentagon and with banks that are resisting and becoming stricter in''Regarding bank guarantees. They often require the buyer to have sufficient capital, which a young couple rarely has unless they go to their parents. "
In the area where Me Roggeman's office is located, Notre Dame-aux-Neiges, around the Congressional Column and the Royal Circus, there have been renovations of late 19th-century buildings and many demolitions and rebuilds in recent years. "This means that the problem of energy passages is not too much of an issue in this neighborhood. "
In his daily practice, the notary observes what potential buyers inquire about before buying a property. "In the city center, many buildings are categorized as heritage properties, and there can be many restrictions. Buyers of such properties know exactly what they''do, they turned to urban planning. "
The downtown area is characterized by both old and new facilities. But for Me Roggeman, the entire park remains interesting and attractive.
Although the center of the capital is densely built up, this does not mean that the area of apartments there is shrinking. It is not uncommon to find on''market apartments of 200 square meters or more (about 600,000 euros). In the Bourse area, houses of 250 square meters are currently for sale for 1.2-1.5 million euros. In the city center, the most expensive properties are those located in small streets. The boulevards of the center and the Grand Place, by a strange coincidence, are more affordable, if real estate maps are to be believed.
On the other hand, the areas near the canal, from Porta Ninove to Porta Flanders, have experienced some success and there has been an improvement there about fifteen or twenty years ago, with new buildings replacing the slums. Dansart and Flandra Streets have become the locomotives of this phenomenon, which is now spreading to the canal, which is becoming increasingly popular (we recently talked about this in connection with''Tour and Taxis).
When it comes to the office space market, there has also been a major slowdown in the center of Brussels. "Many companies have returned to the city center, taking advantage of the proximity of Central Station. But that was before the pandemic. Now, with the rise of telecommuting, companies don't need large office spaces as much. Sales are no longer happening. Construction has really stopped because there is less demand for office space to rent.".
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