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.