Belgium real estate market overview

Belgium real estate market overview

According to research "Belgium Property insight.News and trends in the Belgium property market", conducted by CBRE company, a clear slowdown can be noticed in the number of housing transactions. In the first 9 months of 2011, sales of apartments were down 6% in both Flanders and Wallonia. Only Brussels is still up year-to-date, with a 2% increase as compared to the same period last year.

Despite the noticeable slowdown in transaction activity in the residential market, acquisition prices for apartments are still rising. Prices for apartments were up 4,44% in Flanders, 5,82% in Wallonia and 8,33% in Brussels as compared to the same quarter in 2010.

The most expensive apartments are in Brussels. New apartments trade their at 2 600 euro per sq.m. on average. The most expensive residences can be found in the communes of Woluwe-Saint-Pierre, Ixelles, Etterbeek, Uccle and Bruxelles, with average prices varying in between 2 900 euro per sq.m. and 3 200 euro per sq.m. on average.

Cheapest property is in the south of the country, value range from 1 450 euro per sq.m. in Charleroi to 1 900 euro per sq.m. in Namur. In Liège, a new apartment costs 1 650 euro per sq.m. on average.

To conclude the residential market in Belgium continues to perform strongly, with rising property values.