House and flat prices both markedly up on a year ago
Figures from Belgian notaries show that people are once again purchasing real estate following a sharp deterioration in the market due to the corona emergency. Prices too are on the up.
Real estate transactions plummeted 15.9% in April, May and June, but the market is now recovering. Belgian notaries noticed an 11.6% increase in transactions in July, August and September compared to 2019 figures.
Bart Van Opstal of notaris.be that published the figures: “We’ve noticed that many buyers are showing increased enthusiasm after the lockdown. The sector is making good lost ground. During lockdown it was harder to carry out real estate transactions”.
Today buyers are setting greater store by the space properties offer both indoors and out. Home working and home learning are clearly in the back of people’s minds, while they also want to be able to enjoy space outdoors at home.
Still the market hasn’t entirely recovered. In Flanders sales are lagging up to 6.9% behind 2019 figures. Sales are down in all Flemish provinces, but particularly in Antwerp and East Flanders.
But prices are on the rise. The average home in Belgium is now going for 274,409 euros. That’s up 4.7% on the year. On average a flat will set you back 243,818 euros, a rise of 6.7%.
Average house prices
- Belgium: 274,409 euros (+4,7%)
- Flanders: 303,243 euros (+5,5%)
- Brussels: 497,463 euros (+3,9%)
- Wallonia: 206,681 euros (+5,3%)
Flemish provinces:
- Antwerp: 324,282 euros (+6,6%)
- West-Flanders: 273,165 euros (+4,6%)
- Limburg: 255,531 euros (+5,9%)
- East Flanders: 293,689 euros (+4,6%)
- Flemish-Brabant: 351,068 euros (+5,9%)
Average flat prices:
- Belgium: 243,818 euros (+6,7%)
- Flanders: 246,454 euros (+6,0%)
- Brussels: 274,464 euros (+8,3%)
- Wallonia: 189,255 euros (+6,6%)
Flemish provinces:
- Antwerp: 229,281 euros (+6,7%)
- West-Flanders: 274,658 euros (+2,4%)
- Limburg: 213,876 euros (+6,4%)
- East Flanders: 240,641 euros (+2,4%)
- Flemish-Brabant: 253,304 euros (+5,0%)