Brussels authorities turn to property sales to raise cash

Local and regional authorities in Brussels are increasingly turning to property sales to ease financial strains and support investment programmes.

In Woluwe-Saint-Lambert, for example, the municipality has unveiled plans to sell about €10 million worth of its own houses and land.

Officials say that the move will free up capital to fund improvements to community spaces where €14.5 million has been allocated for this year, helping to balance the municipality's budget without raising taxes.

The sales are expected to draw interest from investors and developers in Woulwe’s high value suburban market, though residents will be watching closely for impacts on housing availability and pricing.

At the regional level, the Brussels Regional Housing Company (BGHM) is also selling off properties to address a significant shortfall in the region's budget. Multiple buildings, including Rue des Palais 48 in Scharbeek, have been put on the market.

The publicly owned housing developer said the sales were part of a strategy to stabilise its finances amid rising development costs and growing demand for affordable homes.

BGHM has said that these sales will generate an estimated €194 million in the next two years, providing a steady income to boost Brussels' social housing sector.

According to the BGHM, the decision reflects increasing financial pressure linked to rising construction costs, delays in major projects and continued demand for affordable housing.

Selling off certain assets is intended to provide short-term financial breathing room while allowing the organisation to continue its social housing programmes.

The moves come amid broader concerns about the state of public finances in Brussels, as authorities at different levels look for ways to fund infrastructure, housing and public services.

Housing advocates caution that selling public housing stock could reduce long-term capacity at a time when waiting lists are already long.