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Belgians increasingly buy second residences under Spanish sun

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Last year, 4,635 Belgians bought a second residence in Spain – which amounts to nearly 13 people per day. This is a notable 34% increase from 2021 which saw 3,458 Belgians securing a second casa for themselves in the sunny Mediterranean country.

The rising prices have not stopped Belgians from acquiring another property to call home. In fact, the energy crisis is believed to be the catalyst of the huge number of property buyers, reports De Morgen.

Lockdowns changed the way people saw their homes, with many choosing to make their homes a place they can spend a lot of time in, instead of just a place to sleep before heading out again. Additionally, with working from home being more commonplace than before the Covid-19 pandemic, Belgians seem to prefer looking out the window at a sunny Spanish vista over grey buildings blending in with an equally cheery sky.

Lower bills

In the same way, the energy crisis also chased people to sunnier climates to save on heating costs. With an average of six hours of sunshine a day from November to February, temperatures are generally more pleasant than in Brussels, which saw a mere 28 hours of sun throughout the entire month of January.

On top of the lower heating bill, the consumer prices in Spain compared to Belgium are also a driving factor according to Leen Vermeulen of Hip Estates, who also stated that he has never before experienced so many Belgians buying a second home in Spain.

Despite the rising prices due to more expensive building materials and the scarcity of properties, Belgians are able to buy a larger, more luxurious home for the price they would pay for a house in Belgium that has less to offer.

“The average selling price for a new fully finished two-bedroom apartment [in Belgium] is €300,000. For that price [in Spain], you can have a small, detached villa with its own swimming pool. Usually, our buyers have a budget of €400,000 to €600,000.”

As for which areas attract the most second-home buyers, Alicante on the Costa Blanca is by far the most popular.

It is followed by The area of Mijas to Estepona on the Costa del Sol and the Canary Islands. There are daily flights to these areas from the different airports throughout Belgium.

Source : The Brussels Times