Belgium Residential MarketView 1H 2023
The Residential Real Estate Market in Belgium
October 9, 2023 6 Minute Read
Report's key takeaways
- Volume of residential transactions decreased in Q1 and Q2 2023 due to rising interest rates.
- Despite the drop in volume, prices for apartments and houses continued to rise in Q2 2023.
- Rising financing costs, construction costs and land prices are leading to higher sales prices of newly-developed apartments across Belgium.
- Newly-built apartments in Brussels now cost in between €3,000/m² and €6,000/m².
- Issued building permits for newly-built apartments have trended down since 2014 and are -29.8% below record year 2018.