Property development
Hi everyone,
We’re just exploring options at this stage and I’m curious whether this type of deal is realistic in Flanders.
We own a house in Flanders close to Ghent, centrum on a quiet street in a good neighborhood (popular location).
The property is:
corner plot
almost 800 m²
wide street frontage
existing house is around 194 m²
older house with poor EPC
Instead of simply selling it as an older home, we were wondering whether developers sometimes make deals like:
they buy/develop the plot,
build a semi-detached house (or small project),
and we receive one of the new houses/apartments as part of the agreement.
Questions:
Is this common in Flanders?
Would a plot like this realistically interest developers?
In practice, do owners usually still need to add significant money on top?
Any pitfalls we should absolutely avoid?
We are not actively selling yet, just trying to understand the possibilities before spending money on architects or studies.
Would love to hear experiences from people who did something similar in Belgium.
Thanks.