The average price for a flat in Brussels breaks €250,000 mark

The average price for a flat in Brussels breaks €250,000 mark
© Belga

The Belgian real estate market saw a record number of transactions during the previous quarter, marking the first time the average price of a property in Brussels went over €250,000.

The latest report of a real estate barometer showed that the third quarter of 2019 was the most dynamic one in terms of transactions since the barometer was established in 2007.

Property prices rose on average by 3.9%, with the average price of a house in Belgium sitting at €259,725 during the first nine months of the year, in an effective hike of 6.2% in comparison to the entire year of 2014.

Wallonia is the only region in Belgium where the average price of a home remains at just below the €200,000 mark, with the average asking prices for houses in the provinces of Liège and Hainaut sitting at €190,809 and €157,969, respectively.

By contrast, average prices for a Brussels appartment have surged to €253,503, going beyond the €250,000 mark for the first time according to the barometer.

The progression in Brussels represents a hike of 5.5% compared to 2018. By contrast, during the same period, the progression in Wallonia was of 1.1%.

The barometer also showed that the highest increase in the number of transactions was taking place in the province of Walloon Brabant, located south of Brussels.

Gabriela Galindo

The Brussels Times

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