Belgium: House Prices, Rents, and Rental Yields
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Good yields in Brussels
| Last Updated: Nov. 07, 2006 | |||||
| BRUSSELS Centre - Apartments1 | COST (€) | YIELD (p.a.) | PRICE/SQ.M. (€) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 700 sq. m. | 130,000 | 1,200 | 11.08% | 1,857 | 17.14 |
| 100 sq. m. | 250,000 | 1,500 | 7.20% | 2,500 | 15.00 |
| 150 sq. m. | 270,000 | 1,825 | 8.11% | 1,800 | 12.17 |
| 200 sq. m. | 425,000 | 2,200 | 6.21% | 2,125 | 11.00 |
| BRUSSELS Suburbs - Apartments2 | |||||
| 100 sq. m. | 190,000 | 1,250 | 7.89% | 1,900 | 12.50 |
| 150 sq. m. | 247,500 | 1,425 | 6.91% | 1,650 | 9.50 |
| BRUSSELS Suburbs - Houses2 | |||||
| 100 sq. m. | 210,000 | 1,400 | 8.00% | 2,100 | 14.00 |
| 200 sq. m. | 405,000 | 2,050 | 6.07% | 2,025 | 10.25 |
| 300 sq. m. | 460,500 | 1,850 | 4.82% | 1,535 | 6.17 |
| 400 sq. m. | 705,000 | 4,000 | 6.81% | 1,763 | 10.00 |
|
1 The South Eastern part of the Brussels Region. Places that are near the Grand Sablon, Central Station, Royal Palace, and other major establishments. 2 Etterbek, Laeken and Mollenbeek. Source: Global Property Guide |
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Gross yields are around 8.15% for apartments in Brussels, the center of the rental market, according to Global Property Guide research. Gross yields for detached houses in the suburbs are around 6.07% to 8.00%, reflecting the strong demand for rental properties in the area. National rental yields reached a healthy 7.3% in 2005.
The rental market has been subdued for a number of years because of the rising number of homeowners, and because of rent controls (see below). The rental market is significant, at about 30% of the housing stock (23% in the private sector, 7% in social housing); but this is falling, and is down from 38% in 1980 and 33% in 1990.
However, in Brussels, 60% of households are renters. A significant high-income rental sector is found in the Brussels region.
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