Belgium Real Estate Prices Rise in Q1 with Decreased Transactions: Latest Statistics & Trends

2023-06-20 10:36:00

Median real estate prices in Belgium rose once more in the first quarter, according to figures from the statistical office Statbel on Tuesday. The number of transactions is down.

Compared to the first three months of 2022, the median prices of houses with 2-3 facades increased by 2% to 260,000 euros, those of houses with 4 facades by 2.8% to 370,000 euros and those of apartments by 4.4% to 235,000 euro.

The Walloon Region remains the cheapest, with a median price of 175,000 euros (+3.6%) for a 2-3 facade house, 285,000 euros (=) for a 4 facade and 180,000 euros (+5.9%) for apartments.

The Brussels-Capital Region is the most expensive for all types of housing: 500,000 euros for a 2-3 facade house (+1%), 845,000 euros (-31%) for a 4 facade 255,000 euros (+2.4%) for an apartment.

The most expensive municipalities in each region, all types of houses combined, are Knokke-Heist (970,000 euros), Woluwe-Saint-Pierre (840,000 euros) and Lasne (632,000 euros). Opposite are Menin (170,000 euros), Anderlecht (330,000 euros) and Hastière (85,000 euros).

The number of transactions in the first quarter fell everywhere in Belgium. Nationally -27.9% for 2-3 front houses, -29.1% for 4 fronts and -21.2% for apartments. The decline is much less pronounced in Wallonia with respectively -12.5%, -9.6% and -5.7%. In Brussels, it is -18.7% for 2-3 facades, -37.5% for 4 facades and -17.8% for apartments.

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