It is often said that Belgians have a strong affinity for real estate. And that’s a good thing! Indeed, investing in real estate remains a relatively safe financial investment, and the health crisis we have just experienced has only reinforced this sentiment.
But how do you know which neighborhood to invest in in Brussels? Amaury Hermanns, founder of Hermanns Real Estate agency and a real estate agent for over 15 years, advises you.
Affordable Communes
All newspapers headline it: the real estate price has only been increasing in recent months, which is good news for owner-sellers. As you might expect, there is no commune where real estate prices are falling. But the current price is not always the sole criterion to consider when making your purchase. Also consider the neighborhood’s life, future developments, and mobility options.
Understanding the Neighborhood
“Before investing in a property in Brussels, it is essential to know the neighborhood in which you wish to buy,” explains Amaury Hermanns, founder of the Hermanns Real Estate agency. Indeed, it is possible that one part of a street is located in a neighborhood with multiple amenities and a vibrant atmosphere, and therefore with a high average real estate price, while the second part of the same street is in a relatively quiet neighborhood, without significant cultural venues, and thus presenting a lower average price.
The Existing Environment
Let’s take the example of Marguerite Square. “This locality is located both in the commune of Schaerbeek, and also in the areas of Brussels-Centre and Saint-Josse-ten-Noode. It is a highly sought-after real estate location, because life there is bustling (market, sports facilities, etc.), but not on the Saint-Josse-ten-Noode side. This part of the neighborhood is, in my opinion, little known,” explains Amaury Hermanns.
Future Developments
If the neighborhood’s lifestyle is an important criterion for you, also consider taking a look at the planned developments in the neighborhood. Let’s illustrate this with the example of Evere.
“The commune of Evere was
long shunned by buyers. Today, it is a rapidlydeveloping area, full of green spaces! It was predominantly
inhabited by workers from Vilvoorde factories, but it is now teeming
with new real estate projects, whether they are income properties or
single-family homes,” confirms the Brussels real estate agent.
These various developments have had a strong impact on the average selling price of real estate in the neighborhood. It has indeed increased from €250,000 to €400,000 in just a few years!
Considering Mobility
Ease of mobility and access
to public transport are also criteria to monitor when
making your purchase. Indeed, we have been completely rethinking our ways of getting around
for several years, and a long-term investment must
take these changes into consideration.
Two communes where real estate
prices continue to rise are Ixelles and Etterbeek. “They
are both close to Brussels-Centre, public transport there
is very well developed. Furthermore, the commune continuously renovates streets anddevelopments in the various neighborhoods. These public investments have
a real impact,” explains Amaury Hermanns.
A busy street that becomes one-way, the development of a public park, etc., are points that could allow you to increase the value of your property.
The Case of the Pedestrian Zone in Brussels
While urban developments often lead to an increase in real estate prices, this has not been true for Brussels’ pedestrian zone, at least not entirely. Indeed, the prices of residential properties have increased, but those of commercial premises have, on the other hand, dropped drastically. In this type of situation, the price of garages for sale or rent may also increase, as parking options become scarcer for residents.
Our Advice for Smart Investment
Are you ready to take the plunge into
real estate purchase? Consider your mobility!
If you travel by car,
choose a property with a garage or a parking
space, even if you don’t currently need it. Buying an
apartment or a house is a long-term investment, and
having a parking area will only increase the value of your property over
the coming years.
If you prefer a motorcycle or bicycle, check for the possibility of having a closed box to park your two-wheeler. For bicycles, a common storage room for co-owners or a bike box will be amply sufficient; whereas a closed box will be preferable if you own a motorcycle or also travel by car.
Do you want to invest in an income property or buy a property to rent it out? Our real estate agency Hermanns Real Estate specializes in the sale and purchase of buildings, both as a whole and by individual units. So, contact us without delay for your investment in Brussels!
