10% rise in Belgians buying second homes abroad

The number of Belgians who own a property outside the country has jumped by 10% in just one year, with Spain, France and Italy topping the list of most popular countries for second homes.

An additional 9,207 Belgians purchased a property abroad in 2024, RTBF reports, bringing the total number to 242,607.

Spain in particular has been the destination of choice, with 40% of Belgian buyers picking it for a second home in 2024.

Some buyers cite a lower cost of living and slower pace of life as primary factors driving his decision to buy a second home in Spain.

“I can sometimes spend at least an hour just contemplating the view,” one second-home owner in Cadiz, southern Spain, told RTBF.

“It calms me down and brings me serenity. It's truly magical. Life here is gentler and less expensive. Property is much cheaper than in Belgium, and the quality of life is higher than in Belgium.”

Spain has long been a popular destination for retirees and investors but, today, the profile of buyers is changing significantly.

David Zapico, managing director of a real estate agency specialising in the Spanish market, said a new wave of Belgian buyers was settling there permanently.

“Thirty- and forty-somethings who are leaving everything behind in Belgium and moving straight to Spain to look for work, learn the language or build a solid foundation are quite go-getters,” Zapico said. “We didn't have that before.”

But the spike in interest is having a direct impact on prices. In just one year, the average cost of a home purchased abroad has risen by 18%, now reaching an average of €380,000.

Photo: Dicklyon/Wikimedia. Licensed under Creative Commons