Belgium apartments for sale are highly prized, especially those in the capital city of Brussels, which is the centre of all political activity in Europe. Brussels is home to diplomats from all over Europe and so there is always a strong demand for apartments here. Today, the demand for apartments in Brussels comes from private individuals from non-EU nations as well, especially from China, Russia, Brazil and Ukraine so it may be a good time to sell your property in Belgium.
There are a plenty of reasons why foreign nationals are buying property in Brussels and in other cities in Belgium. Belgium is the sixth richest country in Europe and has a thriving property market, which has recovered from the housing crisis that hit Europe in the aftermath of the 2008 global economic recession. Brussels is the capital of the European Union, which is a matter of great prestige.
In fact, the property market in Belgium has been on a constant rise since 2000. It stopped briefly in 2008-09 and since then recovered to a great extent. Today, Belgium property prices show a very powerful upward trend, that shows no sign of relenting.
If anything, there is a strong feeling that property prices in Belgium are overvalued and that we are sitting on a housing bubble. If so, you would be well advised to put your Belgium apartments for sale immediately as this represents a great opportunity for you to get out on a high and park your money in a safer location.
It’s not just us who are saying this. In fact, the Economist recently declared Belgium’s property market as being overvalued by over 25%, comparing it to the property bubble in the United States in 2007. Does that ring a warning bell for you? It should!
Luckily for you, there are a large number of foreigners willing to invest in a property in Belgium. Apart from the usual crowd of European diplomats who are looking for a place to stay in Brussels during their visits here, there are a number of rich, sophisticated investors from China, Russia and the Middle East, who are eager to get their hands on luxury apartments for sale in Belgium.
The important thing here is to reach out to these investors and get them to see your apartment. That’s only possible if you’re able to market your property successfully enough. For this, you will have to hire the top UK estate agents who are experienced in real estate marketing and have extensive ties in Eastern Europe, Middle East and in China.
You will also do well to keep the financial aspect of the sale in mind. For example, are you aware that Belgium levies a capital gains tax of 33% on profits made on a sale of a property? Yes, this is quite high – in fact, this is the highest rate in the world. You will be charged capital gains tax on the sale of your Belgium apartment only if you’re selling it within 5 years of the buy-date and it is not your primary dwelling. This is something to keep in mind.
The other thing to do is to spend some money on the renovation of your property in Belgium to ensure that it remains in tip top condition when a potential buyer comes to visit. Get rid of all the clutter as well as the furniture – that would make your apartment so much more spacious. Hopefully, these tips will help you get a great price for your Belgium apartment for sale.