Antwerp is a thriving city known for its rich history, modern amenities, and vibrant real estate market. For international buyers, purchasing property here can be a rewarding investment—but understanding Belgian laws and procedures is crucial.
In this guide, we’ll cover key tips to help international buyers navigate Antwerp’s real estate market with ease.
1. Property Ownership Laws in Belgium
Belgium welcomes foreign buyers, with no restrictions on property ownership for non-residents. Whether you’re from the EU or beyond, you can buy real estate under the same terms as Belgian citizens.
Key Points to Remember
- Property ownership is secure, with laws protecting buyers’ rights.
- Buyers must comply with zoning and urban planning regulations, particularly for historical properties.
2. Hire a Local Notary
A notary is mandatory for all property transactions in Belgium. They ensure the deal is legal, oversee ownership transfers, and handle taxes and fees.
Notary Responsibilities
- Drafting and registering the deed of sale.
- Verifying the property’s legal status.
- Ensuring compliance with zoning laws.
Costs
- Notary fees range from 0.2% to 1% of the property price, plus 21% VAT.
3. Account for Additional Costs
When buying property in Antwerp, consider these extra expenses:
Taxes
- Registration Tax:
- 3% for primary residences (conditions apply).
- 12.5% for investment properties or secondary homes.
- VAT (21%): Applicable for new properties instead of the registration tax.
Other Costs
- Mortgage fees.
- Potential renovation expenses, especially for older properties.
4. Conduct a Property Check
Performing due diligence is crucial when buying real estate in Antwerp:
- Ensure compliance with zoning laws, especially for heritage buildings.
- Check for liens or legal disputes tied to the property.
- Understand any environmental restrictions, such as those for properties near waterways.
5. Financing Your Purchase
Belgian banks offer mortgage options for international buyers, though conditions may vary.
Requirements
- Proof of stable income.
- A 20-30% down payment for non-residents.
- Additional insurance, especially for non-EU buyers.
Tip for International Buyers
Consider fluctuations in exchange rates if financing from abroad. Work with financial institutions specializing in international transactions.
6. The Buying Process
The property buying process in Antwerp typically includes these steps:
- Sign a Compromise de Vente (Preliminary Sale Agreement):
- Both parties agree to the sale terms, and the buyer pays a 10% deposit.
- Cooling-Off Period:
- Buyers have four months to finalize financing and legal checks.
- Finalizing the Sale:
- The notary drafts and registers the deed of sale, completing the transaction.
7. Understand Property Taxes
Property ownership in Antwerp comes with ongoing tax obligations:
- Annual Property Tax (Onroerende Voorheffing):
Calculated as a percentage of the cadastral income (assessed rental value). - Income Tax on Rental Properties:
Declared based on cadastral income rather than actual rent.
8. Work with Local Experts
Navigating Antwerp’s real estate laws is easier with professional help. Hire:
- A real estate agent familiar with the local market.
- A lawyer for added legal oversight.
- A tax advisor to manage financial obligations.
9. Consider Residency Requirements
While buying property doesn’t automatically grant residency in Belgium, owning property can support your application for long-term visas. Check local immigration laws for more details.
Final Thoughts
Antwerp’s real estate market offers incredible opportunities for international buyers. By understanding the local laws, working with experts, and budgeting for extra costs, you can confidently invest in this dynamic city.
Start your property search today and discover why Antwerp is a top choice for global real estate investors!
