Belgium shows few signs of distress

Opportunistic investors may have descended on the Netherlands, but the playing field in Belgium is totally different, according to Tristan Dhondt, partner and real estate leader at Ernst & Young, Belgium.

‘There’s not too much distress in Belgium, there are more discussions about depreciation in the Netherlands compared to Belgium.’ In terms of legislative environment and volatility, Belgium also compares favourably to Amsterdam, he added.

Dhondt made the comments at the PropertyEU Benelux Investment Briefing at the Realty fair in Brussels at end-May.

While the office and retail sectors are dominated by local players, the logistics sector is a key target for foreign real estate investors, Dhondt said. But, he added, investors need to beware of the differences between the Netherlands and Belgium. ‘There are differences: the Netherlands is linked more closely to Germany while Belgium is linked more closely to France.’

Aside from the traditional property sectors, Bouch also sees potential in a range of other areas including hotels, senior living and educational facilities. ‘The range for potential is much greater today in Belgium. You get stability and security here, not the peaks and profits.’

The full story appears in the July-August edition of PropertyEU.