“Capital of the European Union”
Discover Brussels's Real Estate
The capital city of Belgium. It is ranked as an Alpha global city and is the most populated city in its entire country. It is also the most economically stable city in Belgium and its richest as regards Gross Domestic Product per capita.
Culture, History, and Business
The present-day city of Brussels originated from a rural settlement along the Senne River. It has grown and developed to become an important city within the European continent. Since World War II ended, the city has become a major hub for international relations and politics. It has also become home to many international organizations, diplomats, civil servants, and politicians. It has cemented its status as the “de facto” European Union capital as it has within its borders numerous major EU institutes like the legislative, executive-political, and administrative-legislative branches.
In its role as the administrative center for both Belgium and Europe, the economy of Brussels is predominantly service-oriented. The city is filled with global and regional headquarters of companies and multinationals, European institutes, different federal and local administrations, etc. It also has its fair share of craft industries like the Lambic brewery and Cantillion Brewery.
The economy of the city is thriving. The city and its region contribute at least 20% of the country’s Gross Domestic Product. Additionally, its 550,000 amounts to 17.7% of the entire employment in Belgium. The GDP per capita of the region is almost double of the whole country’s GDP. The GDP of the city is boosted by the massive influx of people from neighboring cities.
Real Estate Appeal
The prices of real estate properties in Belgium are rising at a decent rate. In 2019, the hike rate was almost constant at 3.93% per quarter. Additionally, the house prices of pre-existing properties rose by 4-5%, while for new residential properties, it rose by 2-3%. Predictions indicate that house prices are expected to rise by 2% this year.
Rental yields at the city center are at a rate of 5.37% while outside the city center is 5.61%. The cost of renting a one-bedroom in the city center and outside the city is €838.36 and €691.55, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is €1,422.86 and €1,142.65, respectively. The cost of an apartment in the city center is €3,318.48 per sq. meter while outside the city center cost €2,590.48 per sq. meter.
For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
Explore Brussels's Real Estate
Local Real Estate Experts
Attractive Investments In Brussels
📍Over 11,727 investors explored Brussels