Brussels among cheapest expat cities in Europe … represents opportunities for investors.
As is its annual custom, consulting firm Mercer has compiled its ranking of the world’s most expensive expat cities in 2021. At the top of the list – which takes into account housing and rental prices, as well as the cost of food, transportation and leisure – is Ashgabat. The capital of Turkmenistan tops the list for the first time, pushing Hong Kong, which has been the most expensive city for three years in a row, to second place. More important to us: Brussels ranks 53rd in the most recent list. Looking only at the European cities in the list, our capital ranks 13th.
“Still quite surprising,” says Kristof Schellekens, spokesman for project developer Triple Living. “Brussels is the capital of the European Union and home to a lot of big multinationals. Every year our capital attracts more and more expats and highly educated high potentials.” The numbers confirm his words. Belgium has more expatriates in recent years than ever before. An estimated 220,000 foreign highly skilled workers live and work in and around the Brussels Region. That is an increase of nearly 50% from the beginning of the century. In 2000, there were only 150,000 expats active in our country.
The 10 most expensive European cities for expats
In light of the crises of recent years (Brexit, attacks on Zaventem airport, the financial crisis), the increase is remarkable, but at the same time it shows the incredible potential that is present in our country for expats.
3 reasons why these are golden times for real estate investors
• Real estate is more stable than the stock market and yields 5x more than your savings account.
• With low interest rates, borrowing money has never been so cheap, which makes it possible for you to invest even with modest equity.
• Thanks to Triple Living Renting’s professional and experienced rental service, you can let without any worries.
Major international institutions, such as NATO, and the European Quarter make Brussels highly sought after by expats. Its image as one of the world’s leading political global cities is also attracting a lot of attention abroad.
Although Brussels ranks 53rd worldwide, Mercer’s ranking shows that, compared to other major cities in Europe, our capital is still very affordable. London, Paris, Amsterdam, Zurich, Rome, Milan, Dublin: all are more expensive than our capital city. And that probably plays into the minds of expats as well.
With the increase of expats in Brussels, the demand for centrally located quality rental apartments is also increasing. There is still an acute shortage of quality, affordable housing in and around Brussels. The visionary THE BANKS, which brings 200 homes to the bustling Kanaalzone, offers an answer. “Expats will effortlessly find their way to THE BANKS,” Schellekens said. “If not because of its vibrant, green neighbourhood and spacious, quality homes, then because of its accessibility and excellent central location near Tour & Taxis and bustling Noordwijk.”
Opportunities for investors
With the growing number of expats in Brussels, the demand for spacious and luxurious expat apartments currently exceeds supply. Good news for investors, then, as they can get their pick of the current expat boom. Those looking for an investment with high returns and unprecedented growth prospects will find exactly what they are looking for in THE BANKS.
Own rental service specialising in expats
With years of experience and more than 1,000 apartments under management, our rental specialists know the Brussels rental market like no other. With high occupancy rates, they offer you security for maximum returns. Triple Living Renting’s personal rental supervisors also take care of all the administration and practical matters, so you can take care of more pleasant matters.