The kitchen includes just one exposed brick wall dominated by a big steel stove hood; the counters and sink are bluestone. The spacious master bedroom retains its original wood rafters. The master bathroom has a long bluestone sink which was once a farm trough, Ms. De Spiegelaere stated. There’s additionally a walk-in shower with a tub and multiple shower heads. The attic has a different bedroom with a bathroom, as well as a area that could be utilised as a bedroom.
The asking price includes a parking area in a nearby underground garage. It doesn’t incorporate the home’s furnishings.
Among the city’s premier historic landscapes, the Belfry (or Belfort) tower, even with a 47-bell carillon, is a few minutes’ stroll away. Visitors with the stamina to climb the 366 steps to the top of the tower, the portion of which goes to the 13th century, are rewarded with views more than 270 feet. The house is also within walking distance from several shops, cafes and markets. The principal international airport in Brussels is all about an hour drive.
Belgium has enjoyed a rather solid housing market, in comparison with other pieces of Europe, as the global recession had only a minor impact on home costs, according to an annual financial report issued last month from the National Bank of Belgium. Prices climbed sharply in 2015, but slowed to a increase of less than 1 per cent this past year. Historically low interest rates have helped fuel the current market, as has an increase in mortgage loan numbers (or loan-to-value ratios), ” the report said.
So in Bruges, “we can not complain,” said Benjamin Benoit, a sales representative in the regional property division of Dewaele. “We went through a time where it was difficult to market big possessions,” he stated, but today more affluent individuals are placing their money into property because they view it as a more stable investment and a greater return on their money than the banking system.
The properties most in demand are those from the city center with views of the canals, or together with terraces with southern orientations, Mr. Benoit stated. Investors will also be on the hunt for smaller apartments to be utilised as leases.
This season, Ms. De Spiegelaere stated, first-quarter earnings are much better “than every year we’ve ever had.” Both she and Mr. Benoit consented that the terrorist attacks that happened a year ago from Brussels had little influence on the home market.
Who awakens in Bruges
Foreign buyers represent a small segment of the Bruges property marketplace and are generally from neighboring countries such as Britain, France and Switzerland, Mr. Benoit stated.
Bruges is especially popular with older Belgian buyers that have large homes away from the city and are wanting to downsize into apartments which have fewer maintenance responsibilities and are within walking distance of amenities, Ms. De Spiegelaere stated.
There are no limits on overseas buyers in Belgium. Buyers in the Bruges area must pay a registration tax of 10 percent of the sale price, which is lower than the Brussels-area speed of 12.5 per cent, Mr. Benoit stated. Buyers must seek the services of a notary to deal with the transaction; prices vary according to the dimensions of the investment. The vendor pays the real estate agent’s commission, usually. The typical time between contract and closing is around four months, Mr. Benoit stated.
Languages and Currency
Official languages are Dutch, German and French; euro (1 euro = $1.07).
Taxes and Fees
Real estate taxes are approximately 2,000 euros ($2,134) annually.
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