Real Estate market in Knokke-Heist, a West Flanders municipality near the border of Holland
Sales are vivacious in Knokke, the most expensive resort town on the Flemish coast and one of the priciest areas in Belgium.
The market is very strong, and Knokke has seen a sales volume increase of more than 15 % over last year.
In the walkable golden triangle area of Zoute, spacious two- and three-bedroom apartments start at 1.5 million Euros and villas run from 2 million to about 4 or 5 million Euros.
Following the 2008 global economic downturn, the market was stationary for a couple of months”.
At the end of 2009 and the beginning of 2010 sellers didn’t want to sell, and buyers didn’t want to pay the price.
Apartments with ocean views dipped 10% in price and big villas went down 15 to 20 %, while transactions remained difficult for two years.
For the last four years, however, prices have been going up and the past year saw a record number of sales on the coast.
Belgians make up the largest number of buyers, but the area is seeing an increasing number of buyers from France, Luxembourg, Holland and Germany. Families who buy in Knokke have often previously vacationed or rented there.
[from NY Times]