Home Property in Belgium
How to buy a house in Belgium?
Here you will find the detailed information about real estate purchasing in Belgium:
- the right way to choose the property and to effect the deal;
- property taxes and duties that should be paid;
- everything about home loans in Belgium;
- home property management and renting;
- rental, commercial properties and related investment properties.
Real estate for sale
Most recent offers from house owners in Belgium and from real estate agencies. Advertisements with the fixed price and auctions are listed here.
You can leave a comment and give advice to other visitors planning to buy a home in Belgium.
Belgium may impress you with one of the most diverse real estate offering: apartments, detached houses, mansions, cottages, and even land parcels, etc. – with all this having very tolerant prices comparing to other European countries.
The cheapest real estate in Belgium can be found in Limburg region, while the most expensive one is mostly located in the Province of Brabant. The city of Ronse, which is in the East Flanders, offers the most affordable real estate, as of 2013. On the other hand, the most high-priced real property segment is represented in prestigious suburbs of Brussels. The average price for an apartment amounts up to €370 000 here.
In general, the average price for the real estate all over Belgium varies around €350 000: €890 000 for the detached houses, and €220 000 for the flats.
A 37 sq. m. flat next to the seashore in the north of Belgium can be acquired for €80 000. A 50 sq. m. flat in a large city will go for €120 000. An affordable apartment in Brussels with an area of 130 sq. m. will cost €170 000, and a 90 sq. m. flat in Bruges downtown – about €305 000. In its turn, a 750 sq. m. luxury mansion in the capital suburbs will be worth around €6.5 million.
Advantages of real estate in Belgium:
- high level of social security;
- high living standards;
- very low crime rate;
- relatively small country size.
Disadvantages of real estate in Belgium:
- not very soft climate, lots of grey and rainy days;
- occasionally impure air;
- one may have employment difficulties without knowledge of local languages here;
- separatism, which threatens dividing the country into two parts.
Having selected an object for purchase, the buyer signs a preliminary agreement (compromis de vente) and puts a 10% deposit at the trust account, which has been specially opened by a notary. The seller can only access the trust account upon a legal assignment of property rights to the buyer.
Then the notary prepares all the documents necessary for a deal, such as land cadaster license, the object mortgage status, checking the absence of default from the owner’s part, checking the absence of litigation as per the object. This process takes up to 2–3 months.
After that, both parties sign a main sale and purchase agreement, and the buyer pays the rest of the sum for the object. The final stage of a deal is signing an act of sale. The time span between signing a preliminary agreement and signing an act of sale must not exceed 4 months.
The notary is considered fully liable for all the legalities carried out in order to arrange a real estate sale in Belgium.
The following taxes and duties are to be imposed upon real estate acquisition in Belgium:
A transfer tax (droit d'enregistrement) – 10–12.5 % of the object value;
Notary services – 0.2–4 %;
Documentary tax (registration charges, cadastral registration) – 12.5 % of the agreed amount;
Legal expenses – 0.5–1 %;
Tax fee for real estate resale – capital gains tax in Belgium (16 %), isn’t collected after 5 years of property ownership.
Acquisition of real estate on secondary housing market is imposed by a registration fee (up to 12,5 % from an agreement amount).
Secondary market real estate deals aren’t imposed by VAT in Belgium. In case of purchasing a new house or a house under construction, then a 12.5 % registration fee is collected from the cost of its land only. The building is imposed by 21 % VAT.
Upon a real estate sell the capital gains tax is not imposed on those individuals, who have used the property for its intended purpose, and those who have lived in it for at least 5 years. Otherwise the owner should pay a 16.5 % tax.