2023-08-21 06:18:00
Tastes change, fashions too. We may tend to forget it, but this observation also applies to real estate. And widely. “We liked tiling in the 1950s, plain rugs in the 1960s, parquet in the 1980s, flooring in the 1990s”, summarized Christian Lasserre, then a real estate consultant, a few years ago. The tariff path of two relatively close municipalities, Ganshoren and Ixelles, demonstrates this perfectly.
At the start of the 1970s, the median price of a recent, tiled house in Ganshoren was at the same level as that of its old, parquet-floored counterpart in Ixelles! An analogy that can be explained both by the success of the first and by the lack of success of the seconds with households. Because of the oil crisis (1973), they banned high molded ceilings and large, poorly insulated French windows in favor of low ceilings and double glazing. In memory of the sixties when only modernity counted, they dreamed of equipped kitchens, central heating… For demographic reasons, with an increasingly reduced number of children per household (“contraceptive revolution” of the 60s, end of the “ baby boom” in 64, advent of a “baby bust” with fertility below replacement level from 1972), they neglected the large mansions.
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The success of Ixelles came late. It was worn by two audiences.”
Top 3 tumble
In 1975, in the tablets of Statbel, the Belgian statistical office, Ganshoren, the 4th most expensive municipality in the Brussels Region, far exceeded Ixelles (10th). In 1980, the same Ganshoren even climbed to the 3rd step of the podium just following the two Woluwe. In 1985, the municipality to the north of the capital began to lose points, while Ixelles began to gain some. But it was not until the early 2000s that the duel between these two municipalities turned to the advantage of Ixelles, which rose to 7th position in 2005, 3rd in 2010 and became No. 1 in median prices in 2015 and 2020. , while Ganshoren, these same years falls to 16th or 17th place out of 19, at best 13th in 2020.
Wealthy French people and affluent roommates
However, this scenario does not at all perplex real estate professionals. “The success of Ixelles came late,” smiles Aymeric Francqui, managing director of the Latour&Petit real estate agency network. “Carried by two audiences.”
On the one hand investors who saw its large houses through the prism of division into small apartments or student accommodation, before the phenomenon gained momentum under the name of ‘coliving’.
On the other hand “the arrival, since the beginning of the 2000s, of French expatriates (there are nearly 11,000 today in Ixelles) who fall under the spell of its ponds, its Val de la Cambre, its place du Châtelain, its avenue Lepoutre…, points out the expert. Even if some pockets are more popular, the town is a real concentration of exceptional properties. The French loved both the houses and the apartments that their Belgian owners sold off to buy in the outskirts which were becoming urbanized.”
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“Ixelles also has a special atmosphere. A sort of always lively urban village, there are many trendy bars and restaurants, parks, squares and water features with a significant charm”.
If Ixelles remains very popular, “with impressive prices per square meter, even in the context of sales of existing properties”, adds Aymeric Francqui, it is, according to him, thanks to its central position, on both sides of Avenue Louise, which offers both proximity to the Bois de la Cambre, the heart of the city, and the Louise-Porte de Namur district, known for its quality shopping. But also an architecture giving pride of place to early 20th century mansions and other apartments that are reminiscent of those of the Haussmannian boulevards of Paris. “The town also enjoys a special atmosphere, he continues. A sort of always lively urban village, there are many trendy bars and restaurants, parks, squares and water features with a significant charm”.
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“Ganshoren has lost its homogeneity, split in two by Avenue Charles Quint. Its location between ring and Pentagon is no longer a must.
While it is increasingly difficult to acquire new real estate there, “total renovation projects still sometimes see the light of day and find buyers quickly”, he concludes.
The Ring pays less
By comparison, Ganshoren seems to have gone the opposite way. “The town has lost its homogeneity, split in two by Avenue Charles Quint, laments Patrick Balcaen of Immo Balcaen, active in Jette and Ganshoren. Its location between ring and Pentagon is no longer a must. If I have ten requests from expats in a year, that’s a big year. There is no commercial street worthy of the name. Even the Basilix seems to have difficulty attracting diversified brands.”
“We are, in Ganshoren, in a building configuration very different from that of Ixelles, continues the real estate agent. Even if it presents older, more rural parts on the border with Zellik, the housing stock is more recent, dating from the 50s and 60s. Either smaller single-family homes, which cannot be divided.” Cadastral income deemed modest, that is to say below the bar of 745 euros, and giving rise to advantages in terms of registration fees as well as property tax, are not legion but are not extremely rare.
“Which does not mean that the market in Ganshoren is doing badly, far from it, insists Patrick Balcaen. We worked very well during the first half of this year. Prices are holding up. Admittedly, buyers are more hesitant than before, especially when there is work to be done or if there are urban planning problems, but the harbingers for the start of the school year are positive.
summer series
La Libre Eco is launching the last series of its summer 2023 this Saturday. This highlights the sometimes very discordant real estate development of two municipalities that are nevertheless almost neighbors. The first “duel of municipalities” sees the seaside resorts of Knokke-Heist and Le Coq or Coxyde compete. Others will follow, pitting Ixelles and Ganshoren, Namur and Gembloux or even Arlon and Libramont. For a total of six duels. With the assistance of notaries or real estate agents, and Statbel for the figures.
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