Bart Van Opstal of the Royal Federation of Belgian Notaries says it’s above all people seeking a holiday home that are buying at home rather than abroad.
The past year has been a good one for property sales across Belgium, but the Flemish coast has benefitted most. “Today people prefer a holiday home near their domicile to allow them to visit anytime, even when there are outbreaks of corona” says Van Opstal.
“In corona times buyers have become more demanding. In the resort of Heist demand has outpaced supply among the more upmarket segment. People are looking for large apartments with a large terrace. Location is increasingly important.”
Sales in Heist are up a staggering 72.1%. Other family resorts like Middelkerke, Koksijde and Nieuwpoort are popular too. The largest number of properties have been sold in Ostend and Knokke.
Greater demand means higher prices. The average flat now goes for 299,030 euros. That’s 4.1% up on the year.
Van Opstal notes larger price increases for new builds with smaller increases for smaller and older properties. Average prices vary from 593,745 euros in jet-set Knokke to 199,116 in family-friendly Bredene. Flats on the front with a view of the North Sea are far more expensive. In Knokke such properties are now reaching 870,000 euros.