Prices for existing property in Belgium have been stabilising for several years, but the cost of new-build apartments and houses continues to rise, including in Brussels. Which municipalities are the most expensive and cheapest for new buyers?
Brussels remains the most expensive region in Belgium for buying property, even more so for new builds. Still, the price gaps between municipalities are significant. The latest New-Build Barometer by real-estate developers Matexi and Realo reflects the price evolutions (excl. VAT) for average Belgian flats and houses.
For new-build apartments, Brussels is by far the most expensive region: the average price for a newly-built apartment of 95 m² with two bedrooms and one bathroom was €404,119 in the first quarter of this year.
This makes the Capital Region over €75,000 more expensive to buy a new-build apartment in than Flanders (€328,481) and even over €125,000 more than Wallonia (€278,766).
Still, there are very large price differences within the Brussels-Capital Region itself.
Most and least expensive flats
The most expensive average price can be found in Woluwe-Saint-Pierre, where an apartment costs €595,336 – making the municipality the second-most expensive one in all of Belgium. Next in line are Ixelles (with an average price of €532,181) and Watermael-Boitsfort (€500,261).
Closing out the top five most expensive municipalities are Auderghem and Saint-Gilles, where the average price of an apartment is €498,698 and €484,731, respectively.
This places three of Brussels' most expensive municipalities in the top five most expensive ones in all of Belgium. However, the most expensive municipality in the country remains Knokke-Heist at the coast, where a 95 m² apartment costs an average of €639,411.
The construction site of a building for flats. Credit: Belga/Dirk Waem
Meanwhile, the least expensive average price in Brussels can be found in Molenbeek-Saint-Jean, where an apartment costs €289,952. Second-cheapest is Ganshoren (€309,348), followed by Anderlecht (€319,329), Berchem-Sainte-Agathe (€320,827) and Forest (€328,466).
With prices in Wallonia being much lower, none of the Brussels municipalities are featured in the top five cheapest in Belgium to buy an apartment. The lowest average price can be found in Dison (Liège province), at just €186,249.
Most and least expensive houses
For new-build houses, no separate calculations were made for Brussels due to the limited amount of data.
However, the most expensive municipalities for new-build houses in the country are nearly all situated just outside the Capital Region. The barometer compared prices for semi-detached new-build homes with three bedrooms, one bathroom and a garden.
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Such a house costs the most in Kraainem, just outside of Brussels, with an average price of €764,730. While officially located in Flanders, it is so close to Brussels that it is also one of the last stops of Brussels metro line 1 – called Kraainem/Crainhem. Additionally, Brussels tram line 39 also travels through the Flemish municipality.
Credit: Belga
Second place goes to Knokke-Heist at the coast (€759,199) and third place is for Sint-Martens-Latem just outside of Ghent (€694,452), but the fourth, fifth and sixth most expensive municipalities are all located just outside the Brussels-Capital Region.
Fourth is Wezembeek-Oppem (€659,646) in Flanders, next to Kraainem. Like the latter, it is still connected to Brussels by the Capital Region's tram network. Fifth is the municipality of Lasne (€627,797), right next to Waterloo in the province of Walloon Brabant.
Falling just outside the top 5 is the Flemish municipality of Tervuren (€627,486), mainly known for Belgium's Africa Museum. Like Kraainem and Wezembeek-Oppem, commuters can get there via the Brussels tram network.
