House Hunting in … Belgium

Andy Haslam for The New York Times
Andy Haslam for The New York Times
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House Hunting in … Belgium

Andy Haslam for The New York Times
Andy Haslam for The New York Times

This three-story house with a red-tile roof is in the Zoute neighborhood of Knokke-Heist, a West Flanders municipality near the border of Holland. Like most of the homes in this tony section of the North Sea resort, it has a white-painted brick facade. Wide sandy beaches, restaurants and shops are a quick walk away.

Greenery-filled window boxes, gray shutters with bird-shaped cutouts and Juliette balconies embellish the exterior of the house, which has six bedrooms and three and a half baths and was built in 2008 on a quarter-acre lot on a private, tree-lined lane. A gray brick path leads past a rose garden to a portico shading the front door of this 3,563-square-foot residence, said Maxime Van Bockrijck, a sales agent with Cambier-De Nil, which has the listing.

The foyer, which has a powder room and a central quarter-turn staircase, leads to the living and dining rooms, which have wood floors, walls of windows and doors opening to south-facing patios and the garden. There is a fireplace in the living room.

Wood planks cover many of the interior walls “in typical seashore style,” said Stéphanie Cambier, an owner at Cambier-De Nil.

The kitchen has a gray tile floor, a center island with a natural stone slab countertop, gas cooktop, grill, breakfast bar, white lacquered wood cabinets and stainless steel appliances. A mudroom and hallway link the kitchen with a two-car attached garage.

The master bedroom is on the second level, with two balconies, a closet and dressing room and an en-suite bath with a double vanity, a tub and a separate shower. Three other bedrooms, one with a loft and each with a Juliette balcony, share a bath.

On the third level, two bedrooms with sloped walls and dormer windows share a bathroom that has a tub with a stone surround, a double vanity with a stone counter and a separate shower and private toilet.

In the basement is a lap pool with a swim current, a shower and a toilet, and a storage area. There are laundry rooms on the first and second levels.

Families pedal surreys and children ride go-karts on Knokke’s “digue,” a seven-and-a-half-mile esplanade lined with cafes, bars and galleries that winds through the neighborhoods of Duinbergen, Heist, Albertstrand and Zoute. Knokke has about 200 restaurants, a handful of which have Michelin stars. A third of a mile from the house, one block from the beach, is the high-end Kustlaan shopping street, which counts Hermès and Diane von Furstenberg among its designer boutiques.

Knokke, where the population swells from 30,000 in winter to 250,000 on summer weekends, is an hour’s drive or train ride from Antwerp, an hour-and-a-half from Brussels and 20 minutes from the more touristy town of Bruges.

MARKET OVERVIEW

Sales are vibrant in Knokke, the most expensive resort town on the Flemish coast and one of the priciest areas in Belgium. Zoute is “the most exclusive and expensive part of Knokke,” Mr. Van Bockrijck said.

“The market is very strong,” said Stefaan Geerebaert, the manager of Immo Brown Knokke Zoute real estate agency, adding that Knokke has seen a sales volume increase of more than 15 percent over last year.

There were 180 houses and 500 apartments on the market in Knokke as of Nov. 7, according to the real estate site immovlan.be. In the walkable “golden triangle” area of Zoute, spacious two- and three-bedroom apartments start at 1.5 million euros (or about $1.7 million), Ms. Cambier said, and villas run from 2 million to about 4 or 5 million euros (or from about $2.3 million to $5.8 million).

According to Statistics Belgium, a government office, the mean price for a villa or bungalow in Knokke was 1,216,764 euros (or about $1.4 million) in 2016, compared to 349,827 euros (or about $406,000) for all of Belgium. Apartments were also pricier in Knokke, with a mean of 496,075 euros (about $576,000), compared to 221,401 euros (about $257,000) for Belgium overall.

Following the 2008 global economic downturn, “the market was frozen for a couple of months” at the end of 2009 and the beginning of 2010, Ms. Cambier said. “Sellers didn’t want to sell, and buyers didn’t want to pay the price.”

Apartments with ocean views dipped 10 percent in price and big villas went down 15 to 20 percent, she said, while transactions remained difficult for two years.

For the last four years, however, prices have been “going up,” Ms. Cambier said, and the past year saw a record number of sales on the coast, with most close to the asking price — or, as Ms. Cambier put it, the selling discount was “not more than three percent in 70 percent of the deals.”

WHO BUYS IN KNOKKE

Belgians make up the largest number of buyers, but the area is seeing an increasing number of buyers from France, Luxembourg, Holland and Germany as well, said An Willemyns, a manager and broker at Dirk Willemyns, a real estate agency. Families who buy in Knokke have often previously vacationed or rented there, she said.

BUYING BASICS

There are no restrictions on foreign buyers. Buyers and sellers must both be represented by a notary whose fees depend on the purchase price; on a 3 million euro house, the buyer’s fee would run about 6,000 euros, or about $7,000. There is also a 10 percent registration tax, Mr. Geerebaert said.

A 21 percent value-added tax is charged on properties less than two years old.

Belgian law requires that an energy certificate stating the property’s energy consumption level be delivered to the buyer.

TAXES AND FEES

Annual property taxes on this house are about 2,580 euros (or $3,000) a year, Mr. Van Bockrijck said. Houses used as a second residence have an additional “holiday house” tax of 700 to 750 euros a year, or about $810 to $870, Ms. Willemyns said.

LANGUAGES AND CURRENCIES

Dutch, French, English; euro (1 euro = $1.16)

The New York Times



Global Unemployment ‘Stable’ in 2026, but Decent Jobs Lacking

A Palestinian employee inspects sweet locally known as "al-Shatwi" (Winter) Crimbo sweets, as the Al-Arees factory gradually resumes operations after a hiatus caused by the Gaza war which led to shortages of raw materials used in their products, in Deir al-Balah, in the central Gaza Strip on January 12, 2026, following a US-brokered truce that halted the two-year war. (AFP)
A Palestinian employee inspects sweet locally known as "al-Shatwi" (Winter) Crimbo sweets, as the Al-Arees factory gradually resumes operations after a hiatus caused by the Gaza war which led to shortages of raw materials used in their products, in Deir al-Balah, in the central Gaza Strip on January 12, 2026, following a US-brokered truce that halted the two-year war. (AFP)
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Global Unemployment ‘Stable’ in 2026, but Decent Jobs Lacking

A Palestinian employee inspects sweet locally known as "al-Shatwi" (Winter) Crimbo sweets, as the Al-Arees factory gradually resumes operations after a hiatus caused by the Gaza war which led to shortages of raw materials used in their products, in Deir al-Balah, in the central Gaza Strip on January 12, 2026, following a US-brokered truce that halted the two-year war. (AFP)
A Palestinian employee inspects sweet locally known as "al-Shatwi" (Winter) Crimbo sweets, as the Al-Arees factory gradually resumes operations after a hiatus caused by the Gaza war which led to shortages of raw materials used in their products, in Deir al-Balah, in the central Gaza Strip on January 12, 2026, following a US-brokered truce that halted the two-year war. (AFP)

The global unemployment rate is expected to hold steady in 2026, the United Nations said Wednesday, but cautioned the labor market's seeming stability belies a dire shortage of decent jobs.

The UN's International Labor Organization said the global economy and labor market appeared to have weathered recent economic shocks better than expected.

But the ILO warned that efforts to improve global job quality had stagnated, leaving hundreds of millions of workers wallowing in poverty, even as trade uncertainty risked cutting into workers wages.

The global unemployment rate was estimated at 4.9 percent last year and the year before, and is now projected to remain at a similar level until 2027, a report from the UN labor agency said.

That amounts to 186 million people out of work this year, it said.

"Global labor markets look stable, but that stability is quite fragile," Caroline Fredrickson, head of the ILO's research department, told reporters, cautioning that the "apparent calm masks deeper and unresolved problems".

At a time when US President Donald Trump has slapped towering tariffs on friends and foes alike, the report cautioned that "disruptions caused by trade uncertainty, combined with ongoing long-term transformations in global trade, could significantly affect labor market outcomes".

Going forward, the ILO said its modelling suggested that a moderate increase in trade policy uncertainty "may reduce returns to labor and, as a consequence, real wages for both skilled and unskilled workers across all sectors", especially in Southeast Asia, Southern Asia and Europe.

The potential of trade to generate new employment opportunities was also being challenged by the ongoing disruptions, the report said, pointing out that 465 million jobs globally depended on foreign demand through exports of goods and services and related supply chains in 2024.

- Extreme poverty -

Another major concern highlighted by the ILO was the quality of jobs available.

"Resilient growth and stable unemployment figures should not distract us from the deeper reality: hundreds of millions of workers remain trapped in poverty, informality, and exclusion," ILO chief Gilbert Houngbo said in a statement.

Nearly 300 million workers continue to live in extreme poverty, earning less than $3 a day, Wednesday's report found.

At the same time, some 2.1 billion workers are expected to hold informal jobs this year, with limited access to social protection, labor rights and job security.

Young people remain particularly vulnerable, with unemployment among 15- to 24-year-olds projected to reach 12.4 percent for 2025, with around 260 million young people not engaged in education, employment or training, ILO said.

It warned that artificial intelligence and automation could exacerbate challenges, particularly for educated young people in wealthier countries seeking their first high-skill jobs.

"While the full impact of AI on youth employment remains uncertain, its potential magnitude warrants close monitoring," the report said.

The ILO also highlighted "entrenched gender inequalities", pointing out that women still account for just two-fifths of global employment.

"Stable labor markets are not necessarily healthy," Fredrickson said, stressing the growing need for "domestic policy choices to strengthen decent work outcomes".

"Without decisive action, today's stability risks giving way to deeper inequalities."


China Had a Record $1.2 Trillion Trade Surplus in 2025, as Exports Rose 6.6% in December

Women dressed in traditional Chinese-style attire cross a street in Beijing, China, Tuesday, Jan. 13, 2026. (AP)
Women dressed in traditional Chinese-style attire cross a street in Beijing, China, Tuesday, Jan. 13, 2026. (AP)
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China Had a Record $1.2 Trillion Trade Surplus in 2025, as Exports Rose 6.6% in December

Women dressed in traditional Chinese-style attire cross a street in Beijing, China, Tuesday, Jan. 13, 2026. (AP)
Women dressed in traditional Chinese-style attire cross a street in Beijing, China, Tuesday, Jan. 13, 2026. (AP)

China’s trade surplus surged to a record of almost $1.2 trillion in 2025, the government said Wednesday, as exports to other countries made up for slowing shipments to the United States.

China's exports rose 5.5% for the whole of last year to $3.77 trillion, customs data showed, while imports flatlined at $2.58 trillion. The 2024 trade surplus was over $992 billion.

In December, China’s exports climbed 6.6% from the year before in dollar terms, better than economists’ estimates and higher than November’s 5.9% year-on-year increase. Imports in December were up 5.7% year-on-year, compared to November’s 1.9%.

China’s trade surplus surpassed the $1 trillion mark for the first time in November, when the trade surplus reached $1.08 trillion in the first 11 months of last year.

Economists expect exports will continue to support China’s economy this year, despite trade friction and geopolitical tensions.

“We continue to expect exports to act as a big growth driver in 2026,” said Jacqueline Rong, chief China economist at BNP Paribas.

While China’s exports to the US have fallen sharply for most of last year since President Donald Trump returned to office and escalated his trade war with the world’s second-largest economy, that decline has been largely offset by shipments to other markets in South America, Southeast Asia, Africa and Europe.

For the whole of 2025, China’s exports to the US fell 20%. In contrast, exports to Africa surged 26%. Those to Southeast Asian countries jumped 13%; to the European Union 8%, and to Latin America, 7%.

Strong global demand for computer chips and other devices and the materials needed to make them were among categories that supported China’s exports, analysts said. Car exports also grew last year.

China's strong exports have helped keep its economy growing at an annual rate close to its official target of about 5%. But that has triggered alarm in countries that fear a flood of cheap imports are damaging local industries.

China faces a “severe and complex” external trade environment in 2026, Wang Jun, vice minister of China’s customs administration, told reporters in Beijing. But he said China’s “foreign trade fundamentals remain solid.”

The head of the International Monetary Fund last month called for China to fix its economic imbalances and speed up its shift from reliance on exports by boosting domestic demand and investment.

A prolonged property downturn in China after the authorities cracked down on excessive borrowing, triggering defaults by many developers, is still weighing on consumer confidence and domestic demand.

China’s leaders have made increasing spending by consumers and businesses a focus of economic policy, but actions taken so far have had a limited impact. That included government trade-in subsidies over the past months that encouraged consumers to buy newer, more energy efficient items, such as home appliances and vehicles, and replace older models.

“We expect domestic demand growth to stay tepid,” said Rong of BNP Paribas. “In fact, the policy boost to domestic demand looks weaker than last year -- in particular the fiscal subsidy program for consumer goods.”

Gary Ng, a senior economist at French investment bank Natixis, forecasts that China’s exports will grow about 3% in 2026, less than the 5.5% growth in 2025. With slow import growth, he expects China's trade surplus to remain above $1 trillion this year.


Saudi Arabia Signs Mineral Cooperation Deals with Chile, Canada, Brazil

The MoUs were signed on the sidelines of the Ministerial Roundtable of ministers concerned with mining affairs, held as part of the fifth annual Future Minerals Forum (FMF) in Riyadh. (SPA)
The MoUs were signed on the sidelines of the Ministerial Roundtable of ministers concerned with mining affairs, held as part of the fifth annual Future Minerals Forum (FMF) in Riyadh. (SPA)
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Saudi Arabia Signs Mineral Cooperation Deals with Chile, Canada, Brazil

The MoUs were signed on the sidelines of the Ministerial Roundtable of ministers concerned with mining affairs, held as part of the fifth annual Future Minerals Forum (FMF) in Riyadh. (SPA)
The MoUs were signed on the sidelines of the Ministerial Roundtable of ministers concerned with mining affairs, held as part of the fifth annual Future Minerals Forum (FMF) in Riyadh. (SPA)

Saudi Arabia, represented by the Ministry of Industry and Mineral Resources, signed on Tuesday three international memoranda of understanding (MoUs) on mineral resources cooperation with the Chile, Canada, and Brazil.

The MoUs were signed on the sidelines of the Ministerial Roundtable of ministers concerned with mining affairs, held as part of the fifth annual Future Minerals Forum (FMF), hosted by Riyadh from January 13 to 15.

The deals reflect the Kingdom’s efforts to expand its international partnerships and strengthen technical and investment cooperation in the mining and minerals sector in a manner that serves mutual interests and supports the sustainable development of mineral resources.

The signing ceremony included MoUs on cooperation in the mineral resources field with the Chilean Ministry of Mining, the Canadian Department of Natural Resources, and the Brazilian Ministry of Mines and Energy.

The Ministerial Roundtable recorded the largest level of international representation of its kind globally, with participation from more than 100 countries, including all G20 members in addition to the European Union, as well as 59 multilateral organizations, industry associations, and non-governmental organizations.

The attendance reflects the standing the ministerial meeting has attained as a leading international platform for aligning perspectives, building partnerships, and developing practical solutions to global challenges in the mining and minerals sector.