Renting a property once again became significantly more expensive last year. While overall inflation was just over 3 per cent in 2024, rents in Flanders rose by about 6 per cent compared to 2023. In Brussels, the price increase was 5 per cent. In Wallonia, the rate of increase is lower, but still above inflation. Brussels and Leuven remain the most expensive cities in the country.
Sharp rise in rents: ‘Over 100 applicants for one property no longer an exception!’
Colin Clapson
Published:
The rise in rents is mainly due to the widening gap between supply and demand. ‘The Rent Barometer 2024 confirms the main problem today on the rental market: a shortage of supply,’ explains Kristophe Thijs of estate agents’ federation CIB.
‘Demand for rental properties has never been higher. Seeing more than 100 applications for a property is no longer an exception.’ High demand has a clear impact on rents: ‘Landlords see that their properties are very popular and then it is not surprising that they put them on the market at more expensive prices.’
Brussels is most expensive place to rent
The Brussels-Capital Region remains the most expensive place in Belgium to rent a house or flat. The average rent in Brussels - for those who signed a contract in 2024 - is more than 1,300 euros per month.
Incidentally, Brussels is the only region where there are fewer owners (38 per cent) than tenants (62 per cent). Almost 90 per cent of rentals in Brussels involve flats.
The prices reported by the CIB in the new rental barometer are based on leases concluded in 2024 through an estate agent. The CIB considered 47,500 new rental contracts.
Rent Barometer 2024
Flemish Brabant most expensive Flemish province
The most expensive provinces to rent are Flemish Brabant and Walloon Brabant. Tenants who took out a lease in 2024 paid more than 1,100 euros on average.
The gap with the other provinces is wide. In Antwerp, the average rent in 2024 was around 950 euros. In West Flanders, Limburg and East Flanders, we see average prices between 800 and 900 euros a month.
In the other Walloon provinces, rents are generally slightly lower than in Flanders. We also see smaller price increases in Wallonia than in northern Belgium.
Average rent in Flanders rises to 922 euros
Zooming in on Flanders for a moment, we see that last year, tenants who signed a new rental contract had to pay an average of 922 euros per month for the property. That is about 6 per cent more than the previous year. Last year the inflation rate stood at about 3 per cent. Also in 2023, rents rose by about 6 per cent, but then inflation was a lot higher (about 10 per cent).
Average rents in Flanders