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Coastal real estate market cautiously recovering

Coastal real estate market cautiously recovering

After a period of stagnation, the real estate market on our coast is coming back to life. Better weather, slightly lower interest rates, and renewed confidence are encouraging prospective buyers to take the plunge again. Existing apartments in particular are finding new owners more easily. Nevertheless, project developers remain cautious, and owners are feeling increasing pressure to renovate.

 

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Smoother sales, more confidence

 

Filip Dewaele (Dewaele Real Estate Group) sees the market recovering cautiously. “We are not experiencing a boom like we did a few years ago, but people are definitely buying again,” he says. According to him, sales of existing properties in particular are going much more smoothly, while new construction is also holding up reasonably well. David Degroote (Vastgoedgroep Degroote) confirms: “Demand and sentiment have clearly improved. Whereas last year it sometimes took us ten to twelve weeks to convert a hot lead into a sale, we are now seeing that return to normal at six to eight weeks. People are less hesitant.”

Gino Weyne (Condius) notes that buyers often make their decision as soon as construction work has started, especially in prime locations such as the seafront. Lower interest rates undoubtedly play a role in this. “A mortgage just under 3% is certainly not unfavorable in these times,” says Dewaele. In addition, the uncertain stock market climate is also encouraging investors to opt for real estate. “An apartment by the sea is not only an investment, but also something to enjoy. That makes it extra attractive,” says Weyne.

 

Pressure to renovate is increasing

 

A major challenge is the aging real estate on our coast. A wave of renovations is imminent, especially in apartment buildings. “The big hurdle here is getting all the owners on the same page,” explains Dewaele. “Especially in cheaper coastal municipalities, some of the co-owners often put the brakes on expensive interventions, such as facade renovations or a new heating system.” He therefore advocates mandatory multi-year planning, so that owners and prospective buyers know what to expect.

 

Project developers more cautious

 

Project developers are also less likely to commit to new projects these days. “Cheaper developments with a sales price below €3,000 per m² are hardly profitable anymore,” says Degroote. “Inflation, rising construction costs, and higher interest rates have completely wiped out the margins.” According to him, developers have therefore become more selective and are quicker to pass on projects. “Recently, a site in Bredene with fifty apartments received not a single bid. In my 25 years in the business, I have never seen that before.”

Nevertheless, Dewaele remains positive about the coastal market. “The only real risk is that everyone waits at the same time. But that doesn't usually happen. People who buy on the coast often do so with their savings, and if prices fall slightly, owners simply wait for the tide to turn again. Panic selling is rare here.”

 

 

Trends (2025).Kustvastgoed herstelt zich: meer kopers,voorzichtige ontwikkelaars, CIB Community. Geraadpleegd op 3 juli 2025.

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