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Brussels property prices
Hi all,
Sorry if this has been asked before, but I don't log in so regularly. Anyhow, I have a quick question - Did Brussels have a similar property boom like many other European countries followed by a steep crash in the last couple of years. Say, if you bought a property at 300.000 EUR in 2007, how much would that be worth today approx?
Thanks in advance for all responses and Happy New Year
Prices for properties increase quite a bit in the last few years, I wouldn't call it a property boom but a continuous increase (and if I am not wrong according to statistic this increase is happening since 1977). The fact that high taxes are applied to each purchase or capital gain tax applied for properties sold before 5 years makes the market more stable and less prone to speculations.
However the forecasts for Brussels expects quite a steep increase in population in the next 5/10 years and this might put pressure on the rental or property market. This might clash with the fact that banks look for more guarantees when lending money or the economy slowing down in the country.
It is difficult to say how much a property bought in 2007 is worth now, a good check would be to look in Immoweb for similar properties in the same area. For personal experience I would say an increase of 5% a year but as usual is worth how much someone is prepared to pay for it.
