The Belgian capital Brussels has remained the country’s most expensive region for real estate but concerns over illegal drug activity have driven sharp local price differences.
New figures from Statbel, Belgium’s national office for statistics published on April 30 revealed that while the average price for a non-detached house in Brussels rose to €495,000 — almost double the national average of €260,000 — some neighbourhoods saw prices fall significantly amid crime and security fears.
According to Belgian newspaper Le Soir on April 30, property prices in the Brussels-Capital Region continued to climb overall.
Areas grappling with rising drug-related issues, though, have experienced a noticeable decline. Neighbourhoods such as Anderlecht, Sint-Gillis, and parts of Schaerbeek have seen marked declines in property values, with some areas reporting decreases of up to 15 per cent.
Open drug use, particularly in public spaces including metro stations and parks, has contributed to a growing sense of insecurity among residents and potential buyers. That has prompted concerns over safety and contributed to the stagnation of property values in certain high-risk areas, news outlet HLN reported.
In contrast to Anderlecht, Sint-Gillis and Schaerbeek, wealthier areas of Brussels less impacted by these issues experienced stable or continued price rises.
Neighbourhoods including Uccle and Woluwe-Saint-Pierre were holding steady or recording growth in property values, further emphasising the divide between Brussels’ more affluent areas and those where security was a growing concern.
For those already living in these neighbourhoods where fears related to drug-dealing were reported, property values fell. That has left some residents facing financial uncertainty and in some cases, struggling to sell their homes.
The market’s price divide has also impacted the rental market, where demand for properties in lower-income, high-risk areas has dwindled. Investors looking to capitalise on these affordable properties may find opportunity but the long-term implications were regarded as uncertain.
Local authorities have taken steps to address the situation. Plans for harm-reduction initiatives, including a legal drug consumption facility, are in the works to help reduce the visible impact of drug use in the city.
Whether these measures could reverse the growing trend of insecurity in affected neighbourhoods and for their residents remained uncertain.
