This shortage has resulted in particularly rapid rentals, but also in rising rents. Figures from Korfine (a partner of CIB Vlaanderen (the federation of real estate professionals) specialising in rental guarantees) highlight the fact that rents in and around Brussels have increased by 25% in the past six years. This underlines the structural tension between supply and demand. New quality and energy requirements for rental properties only reinforce this trend: modern, sustainable flats are becoming increasingly scarce and therefore particularly sought after by tenants.
The tremendous interest in Colonel’s Corner, a new development in Evere, is hardly surprising. With entry-level prices starting at €315,000, a good ROI is easy to achieve when renting out a unit. However, these days, a professional approach is a necessity: regulations are evolving, tenants have higher expectations, and administrative follow-up requires more and more time and expertise. This explains why Antonissen is making Estero’s expertise available to investors in Colonel’s Corner. Estero takes care of all rental aspects, including tenant selection, contract management, follow-up and communication, ensuring that owners can rent out their property without hassle and optimise their return.
Thomas De Pelsmacker, Estero’s joint CEO, has more than 12 years of experience, making him an expert on the Brussels rental market. He says location is one of the decisive factors that contribute to the strong rental potential of Colonel’s Corner. “Evere has seen the largest population increase in Brussels: +19% in just ten years. This demographic pressure has had a direct consequence in terms of structurally strong demand for rental properties,” says De Pelsmacker. Moreover, Evere has quiet residential neighbourhoods that are extremely accessible: close to the E40 and the R0, with good public transport connections (tram and train) and easy access to the metro network. This makes the commute especially smooth (including by bicycle) for anyone working at the European institutions or international companies in the capital. The nearby sites of public broadcasters VRT and RTBF are also undergoing a radical transformation into a new media hub and lively city district. The district will have a 10-hectare park with a focus on biodiversity, active mobility and quality of life, creating an urban environment that is forward-looking. In addition to this, the district is also home to economic hubs such as NATO and the new headquarters of the Ministry of Defence, which are currently under construction. All these factors combined ensure a continuous influx of solvent tenants.
“In this rapidly changing environment, Colonel’s Corner meets the demand of tenants and investors alike,” says Thomas De Pelsmacker. “The flats with 1, 2 or 3 bedrooms and spacious terraces draw in a lot of light and offer views of the surrounding greenery, making them especially attractive for tenants. Colonel’s Corner is completely gas-free and has a BTES system with individual heat pumps, green roofs and high-quality insulation. But the development also has several practical features. An underground car park for 48 cars and 68 bicycles obviously offers tremendous added value in this neighbourhood. It is this combination of sustainability, comfort and location that makes units here eminently rentable.” If the surface area of the property does not exceed 175m², investors also enjoy a significant tax benefit. Anyone who rents out a property privately to a natural person who is domiciled there for 15 years can avoid the standard VAT rate of 21% on the construction value and pay just 6% VAT. This significantly reduces the purchase price and increases the return on their rental property.
A good location and a well-thought-through project To effectively capitalise on this potential, Estero takes care of daily management and maintenance so investors don’t have to worry about a thing and can also enjoy an immediate return on their investment.
In practice, Estero is responsible for the following:
The fee structure is transparent: upon signing a rental agreement, the first month's rent is charged, followed by a management fee of 8% on the monthly rental income (excluding VAT). In the event of vacancy, this fee is waived entirely. Estero’s commitment is clear: if the tenant doesn’t pay, the owner won’t have to pay us either. That way, we share the risk. But I’m confident that this won’t be the case for Colonel’s Corner,” says De Pelsmacker.
Antonissen Development Group is repurposing an existing wing of the Vogelzang nursing home in Leuven into a high-quality student residence with 84 student rooms. The site is strategically located near the UCLL and Campus Gasthuisberg, two important campuses for Leuven’s student population. The City of Leuven granted planning permission in record time due to the clear social impact and widespread support from the local community.
Anyone who has read our case study on SME real estate will know that industrial land is becoming increasingly scarce. Available sites often have an industrial past. The site in Halle, where the outline of De Stokerij will soon become visible, was no different in this respect. With 41 SME units in six buildings, this business park ticks all the boxes for entrepreneurs looking for a strategic location. The flexible units (106 to 390 m², clear height 6.5 m) are suited to a wide range of activities, from warehouse to showroom or workshop. Besides being a home base for entrepreneurs, De Stokerij also has a positive impact on the surrounding area and the environment.