Property Investment Case Study: Belgium (TPI-BE-001)
Introduction:
It happens time after time. People understand Europe the way they've been introduced to it - The usual tourist meccas, the attractions on a thousand postcards. Then they remember Belgium, the little country, they passed through a few days ago.
It seems beautiful, it's practically next door to Paris, London and Amsterdam, and they have 24 hours to explore it before heading home. Two hours later, they are in love with Belgium! The Belgium real estate market is an excellent investment.
Because it is the best kept secret in Europe. Visiting medieval cities, quaint towns, gothic cathedrals and town halls, castles and carillons will keep you busy during the day. At night go to a pub, there are more than 350 delicious beers to chose from. The reputation of Belgium's gourmet food makes the French jealous and it is almost impossible to find chocolates as good as ours!
Location:
Western Europe, bordering the North Sea, between France and the Netherlands
Economy:
This modern private enterprise economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the populous Flemish area in the north.
With few natural resources, Belgium must import substantial quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets.
Roughly three-quarters of its trade is with other EU countries. Public debt is nearly 100% of GDP.On the positive side, the government has succeeded in balancing its budget, and income distribution is relatively equal.
Belgium began circulating the euro currency in January 2002. Economic growth in 2001-03 dropped sharply because of the global economic slowdown, with moderate recovery in 2004.
Property Market:
No data available
Examples:
Attractions:
The Belgian capital, where most journeys through Belgium begin, has enough to keep a tourist occupied for a week. Highlights include a trip to the Grand Place, home to a number of Baroque buildings built toward the end of the 17th century. During the summer months it stages a music and light show which shouldn't be missed. One of Belgium's most instantly recognisable landmarks, the Atomium, is found in Brussels also.
Bruges and Ghent in the Western Flanders, which are largely overlooked by tourists who tend to stay in Brussels and Antwerp, provide a nice option for a break for from the rest of the country's tourists who swarm the capital.
Bruges, which is becoming more popular with tourists than Brussels in recent years, is one of Europe's best examples of a medieval city. Visitors get to appreciate it?s unique blend of old cobbled streets, canals and squares. Ghent, which was medieval Europe's largest city after Paris, is smaller than Belgium's other cities with a moderate population of 200,000 people. It still, somehow, manages to be home to many museums and it's very own red light district.
Antwerp, capital of the Eastern Flanders region, is an old city full of (more) cobbled lanes, cathedrals and art. Both Rubens and van Dyck were from the Flanders region. Fine examples of Ruben's work can be found in both the Royal Museum of Art and the House of Rubens.
Transport Infrastructure:
No data available
Local Mortgage:
No data available
Inflation:
2.8%
Economic Growth:
1.5%
Sunshine Days:
No data available
Annual Rainfall:
750 to 1,000 millimetres
Temperatures:
Winter: -1 to 3 C
Summer: 16 to 21 C
Property Price Inflation:
No data available
Local Currency:
Euro
Cost of Living Index:
No data available
Income Tax:
No data available
Property Tax:
No data available
Capital Gains Tax:
No data available
Buying and Selling Costs:
No data available
Rental Yields:
No data available
Report Compiled By:
The Property Investor Magazine
To download this case study in a handy pdf format use the link below:
Download Case Study TPI-BE-001
Report ref: TPI-BE-001
Date created: 12-01-2006
