Property transactions rising on Belgian coast

Property transactions rising on Belgian coast

The number of real-estate transactions on the Belgian coast rose by 4.8% in the first 6 months of the year, reveals a barometer published by the Royal Federation of Belgian Notaries on Thursday. Moreover, property prices are on the rise in coastal areas and also, but less so, all along the sea wall.

On the basis of data pertaining to signatures of provisional sales agreements, the Federation points out that property transactions increased by 4.8% during the first 6 months of 2015 in comparison to the same period last year. They also point out that this upward trend is below the national average, with a real estate activity index for the first 2 quarters of 106 to the national 112. “The coast benefitted to a lesser degree from the sharp increase in property transactions recorded nationwide since the last 2 quarters of 2014,” indicates the Federation.

One explanation might be that many potential buyers tend to lean towards new- and recent-builds on a market with lots of much older flats on offer.

The Federation also highlights that “the sales prices of flats on the coast are starting to recover,” those in the coastal municipalities having risen by 3.6% and those along the sea wall by 2.9%. A flat along the sea wall will set you back 320,000 euros on average, one in the coastal area 265,000 euros and a house on the coast 284,000 euros.

The areas commanding the highest prices are Knokke (398,000 euros), Heist-aan-zee (290,000 euros) and Coxyde (255,000 euros) for a flat. Prices shoot up on the Knokke sea wall, with a flat costing on average a staggering 675,000 euros, reveals the barometer.

(Source: Belga) 

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