The self-proclaimed capital of the European Union has seen a boom in new housing this year, particularly in the European Quarter. Some 1,000 new homes are planned or under construction in the part of Brussels that houses most of the EU institutions. The new homes are spread out amongst 11 building site in this popular section of the city.
According to news reports, real estate agents have noted that since the EU expanded to include many of the former Soviet bloc countries, the demand for housing has gone up considerably. As most of these diplomats and workers want to be near the EU facilities, this part of the city has seen the most demand for new housing. These home buyers are seeing the average price of a two bedroom home or apartment in the European Quarter rise to over €400,000. One particular type of dwelling that is seeing increasing demand is serviced apartments.
In addition to the EU workers, there are a number of employees for international firms as well as NATO who want housing in this part of the city. The location near the airport is an added plus, as is the access to public transportation, including international rail lines. For many expats living in Brussels, taking the train home is as quick as flying.
One of the reasons for the popularity of the city overall, and not just the European Quarter, is the low prices compared to many other major European capitals. For many, the favorable tax laws and low prices make it an ideal place to retire to.
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