Engel & Völkers Licence Partner Gent-Zuid • Sint-Martens-Latem > Blog > Antwerp: an attractive city which appeals to people from Brussels

Antwerp: an attractive city which appeals to people from Brussels

For some years Antwerp has been carrying out a major urban rehabilitation policy. And the result of these improvements can be clearly seen today.
With the price of real estate now very attractive, many companies have chosen to set up in business here. The latest statistics show that between 2015 and 2019 more than 12,000 companies were created, generating around 6,500 new jobs. And meanwhile, 15,000 jobs have been lost in Brussels in those same four years.

Another of Antwerp's attractions is the very affordable cost of housing in those neighbourhoods which have been upgraded. In 2019, the average price of accommodation in the Brussels region was € 240,500, about 15% more expensive than the average price of an Antwerp apartment, which came out at € 206,900. And for houses and villas, property prices can be as much as 40% lower. So, while you have to invest an average of € 452,721 to purchase a house in Brussels, you can buy a villa in Antwerp for € 275,784.

This phenomenon arises because the city of Antwerp has invested millions of euros in the rehabilitation and creation of new residential districts. For example, districts such as Eilandje and Damwijk, originally poor and neglected industrial zones, have now become much sought after property hotspots, mainly as a direct result of these restructuring projects.

The building of housing near the Spoor Noord park in Antwerp’s Eilandje district is already capturing the interest of Brussels residents, including among others a number of buy-to-let investors, as well as those who wish to settle in Antwerp because of the job opportunities this port has to offer.

A market study report indicates that, in the last five years, some 3,500 Brussels residents have decided to leave the capital to live in Antwerp, not only because of the significant port employment opportunities available, but also because extremely high property prices in the capital have made such a move very affordable.

Since 2013, an average of 50 Brussels residents have left Brussels each year in order to settle in the Antwerp metropolitan area. And between 2013 and 2017, a total of 3,581 Brussels residents bought real estate there. Not only that, in 2017 there were 810 people who decided to settle in this port city, a figure up more than a third from the total five years ago. Investors are taking advantage of the fact that Antwerp’s rental market is very attractive, while the cost of apartments is on average 14% lower than the price of those in the capital.

At the same time, the migration of Antwerp residents to Brussels dropped from 600 in 2015 down to 580 in 2019.

Are you looking for a property in or around Antwerp?

Then contact your nearest Engel & Völkers real estate agency. See the list of agencies in Belgium.

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