Real estate market at the Belgian coast

Second residence is and remains popular

Almost half (45 percent) of all properties on the coast function as second homes. These are mainly apartments and studios, but villas and houses are also attractive as second homes. The increase in purchase is due to the improvement of infrastructure and the development of quality projects. This attracts two groups of people: both those who like to live permanently by the sea and those seeking a second residence. About 60 percent function as primary residences and just over 40 percent for other purposes.

Origin & background buyers

According to the latest data, more than 100,000 Belgians have a second residence on the Belgian coast. In addition, there are about 10,000 foreigners, mostly Dutch and French. Dutch people like to stay in Knokke to Middelkerke, French owners prefer De Panne to Nieuwpoort. German homeowners are mainly in De Haan.

Recent research by the province of West Flanders shows that about 43 percent of coastal residents are older than 56. Over a quarter are even older than 65. This group of 55-plussers with a reasonable income is also called the "Grey Wave. For people over 60 and 70, a large house with a garden is often too intensive in terms of maintenance. Therefore, they choose a comfortable apartment or small house on the coast. Of course in a location where all amenities are within easy reach. And that is exactly what this group of people finds on the Belgian coast. Almost all facilities are within walking distance. At the same time, this means that at Belgian coastal towns there is life all year round.

Why people choose a house on the Belgian coast

The Belgian coast obviously has the advantage that it is close, easily accessible by car and people know what is allowed and what is not. Buyers often choose a second home by the sea because of pleasant childhood memories. The emotional part also plays a role, as do the year-round activities. A frontal sea view is of course the icing on the cake.

The Belgian coastal climate

The climate remains Belgian, of course. Yet owners of a second home on the Belgian coast enthusiastically tell how much beautiful weather they observe. Not only the sun plays a role. For many residents, it is also the air pure climate and the natural fluctuations of the seasons. Indeed, nowhere are these better experienced than on the Belgian coast. The homes currently available have experienced an impressive evolution when it comes to style, design and comfort. Apartments, for example, certainly do not differ in attractiveness from homes encountered in an urban environment.

Belgian coastal house prices

The financial crisis and increased taxes on second homes have meant that, until recently, homes on the Belgian coast have been under considerable pressure. Taxes alone have almost doubled in the last 10 years. Basic taxes go to the Region, while municipal taxes are remitted to local authorities. Middelkerke and De Haan are the most favorable at around €500 per year.

Nevertheless, the Notary Barometer shows growth in terms of house prices on the coast in the first quarter of 2018. This is also reflected in the number of transactions. This therefore makes prospects more than positive. Reason enough to start a real estate franchise under the banner of Engel & Völkers.

The added value of an expert real estate agent

In all circumstances - wherever the second residence is located - the purchase of a second residence is not only an emotional matter. Between dream and reality, practical considerations often rear their heads. The market situation, choice of location and hidden costs (especially maintenance) require a good understanding before making a decision. As a result, people often think a little longer before making a purchase.

Franchise with Engel & Völkers

The help of a good real estate agent is indispensable here. Engel & Völkers is always willing to enter into real estate franchise partnerships with local brokers in order to provide a high level of service that both buyers and sellers deserve. Are you considering getting into real estate franchising? Contact us with no obligation. We will be happy to inform you about the possibilities for a successful partnership.