The “capital of Europe effect” and the advent of the single currency have changed the real-estate investment landscape in our city. According to a recent American survey, Brussels has moved up into the fifth place among the European capital cities with the highest investment potential in this sector. It is becoming increasingly difficult, today, to find a quality property…
Paris, London, Milan and Lyon were already in the top league…Our city has now joined them as one of the five European cities most coveted by real estate investors. In the past three years, over €2 billion have been spent on Bruxellois property – and the curve is steepening! Scalded by the dot-com burnout on the stock market, investors are diversifying their portfolios, thus fuelling the real-estate boom. The share of investments in this sector is on the rise.
The “Europe effect”
The decision to turn our city into “the capital of Europe” and the advent of the single currency, which has made transactions easier, have been major contributory factors to this trend. Not only are thousands of foreigners taking up residence in our city (Europe now has 27 Member States with high purchasing power) but scores of pension funds, insurance companies and real estate funds are “setting up” here too. The problem is Brussels’ inability to meet the growing demand for property at the higher end of the market. As a result, prices are rocketing, and buying property has today become a challenge which is forcing individuals and companies alike to rely on the know-how of real estate agencies. Welcome to the Brussels jungle !