Affordable Vacation Homes Abroad: A Dream Come True for Belgians

2023-09-11 12:10:00

Treating yourself to a vacation home abroad is the dream of thousands of Belgians. And if this seems inaccessible to most people, the figures are still astonishing. A few months ago, a study carried out by BNP Paribas Fortis indicated that 1.19 million Belgians owned at least two properties. On the Belgian market, 7% represented properties on the coast, 4% in the Ardennes and 65% with a view to generating rental income. Abroad, we cite the figure of 200,000 Belgians who own at least one property beyond our borders.

Rents continue to rise in Wallonia, Walloon Brabant still much more expensive than the other provinces (INFOGRAPHIC)

This is proof that the Belgians are on the lookout for an opportunity. And if prices are climbing everywhere, particularly in France where Parisians caused the price of houses on the coast to explode after the first confinement, certain regions remain very accessible. Beyond Quiévrain, we are thinking in particular of Cher, a department renowned for not being so! A viral video on social networks shows properties of 48 m² for 15,000 euros or even a house of 79 m² for 48,000 euros. A post seen nearly 3 million times.

And these are not exceptions. Located in the heart of France, this department attracts more and more buyers and is known for its unbeatable prices. Creuse is also known for this. In Italy, it is Calabria – which represents the foot of the Boot – which offers the cheapest accommodation. In 2021, the average price per square meter was €890. Or €133,500 for accommodation of 150 square meters.

Real estate: fewer in number and above all more and more expensive, sales of building land are declining in Belgium

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Furthermore, Spain also continues to attract thousands of Belgians each year. In the second quarter of 2023, 14.94% of real estate acquisitions were made by foreigners, the second historic quarterly record. “Despite the increase in interest rates, prices and the provision of equity requested by banks from borrowers, the number of real estate acquisitions by Belgians in Spain remained stable (-1% compared to the 2nd quarter 2022). This represents 1,138 real estate properties acquired between April and June 2023, or no less than 12.6 acquisitions per day on average,” declares Jonathan Buchet, CEO Belgium of ZAPINVEST, a Belgian real estate agency specializing in transactions in Spain.

It is certain that the crisis does not affect everyone in the same way.

ING expects house prices to fall by 3% this fall
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