The second half of 2024 is a good time to buy a home in Belgium, with prices stabilising and even dropping a bit in Brussels
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Housing prices in Belgium stabilise, buyers encouraged to enter market
Lisa Bradshaw
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While the cost of housing in Belgium is not going to decline anytime soon, prices have stabilised, according to Belgian Notary Federation’s Real Estate Barometer. In the first half of this years, 4.2% fewer houses were sold than in the same period in 2023, which had already seen a decline from the year before.
While fewer properties were sold over the last two years, prices continued to increase – until now. In Brussels and Wallonia, prices have even decreased somewhat. In Flanders, they are stable.
“We’re not talking about a big decrease,” said John Romain, CEO of Immotheker Finotheker. “The prices are high, and they are going to stay that way.”
In 2021, you had 10 minutes to see a house and make a decision. That was stressful.
Real estate CEO John Romain
The average cost of a house in Flanders is €362,000. The average cost of an apartment is €278,000. The least expensive province to buy a house or an apartment is Limburg. The most expensive houses can be found in Flemish Brabant and the most expensive apartments in West Flanders.
Romain encourages potential homebuyers to take advantage of the current market. “If you can get a loan, don’t hesitate,” he says. “We are exiting a real estate-rush, which peaked in 2021 when you had 10 minutes to see a house and make a decision. That was stressful for potential buyers.”
The current market allows buyers to take their time, he says. “You can do your homework, visit several properties and make a thoughtful decision. It’s a good time to negotiate the price.”