Belgians' real estate assets, comprising land and buildings, rose by 3.8% in 2023 compared to the year before. They are estimated at €1,949 billion, the National Bank of Belgium (NBB) said on Tuesday.
This figure equates to 327% of Belgium's GDP.
In total, the value of land (built-up or undeveloped) owned by individuals in Belgium is estimated to have reached €1,137 billion in 2023. This is over half (58%) of all the real estate owned, according to the report.
Over three-quarters of this land owned by individuals is land underlying residences, while other types include land for construction purposes, land underlying buildings and other structures, and agricultural land.
The remaining 42% of the total value in 2023 was building stock held by individuals, valued at €812 billion. Here, too, the vast majority of this amount was made up of residential buildings.
In comparison, the financial assets of individuals were valued at €1,559 billion – up 5% from 2022.
