Nearly one million people in Belgium (which only has a population of almost 12 million) own at least two properties – a record number, according to figures from the Federal Finance Ministry.
Belgium had exactly 5,062,913 homeowners on 1 January 2025, according to data from the Finance Ministry, reports De Zondag. Importantly, couples who have bought together are both counted as owners.
"It is a very high figure," Bart van Opstal, notary and spokesperson for the federation of notaries (Fednot), told The Brussels Times.
The number of people who own multiple homes rose from 889,962 in 2024 to 905,590 last year.
These include people with a second home by the sea, who buy a student flat while their children are studying, or who rent out an apartment, but also investors with multiple (rental) properties.
Rush on real estate
"Belgians continue to see real estate as a very safe investment. That is obviously a factor," he said. "The market for (second) homes picks up in uncertain times, and what we know for certain is that we are currently living in uncertain times."
People are responding to global uncertainty "by seeking a safe haven, with buyers no longer waiting for a price drop that is not coming," said van Opstal. "And that naturally brings property into the picture."
He emphasised that a similar rush on real estate happened after the first Covid-19 lockdown(s) in Belgium. "At that time, we also saw a rush on property, especially in 2021. We are now experiencing this again to some extent."
More than 6,400 Belgians own between 20 and 50 properties, and a small group of 917 citizens own more than 50 properties.
Credit: Belga
In recent years, the upward trend in property purchase has been particularly visible, according to van Opstal. "There were 12% more transactions last year than the year before."
According to Alissa Lefebre, a property economist at ING, house prices in Belgium have continued to rise steadily in recent years.
"Compared to our neighbouring countries, we have seen fewer price corrections," she told VRT. "Our latest survey on real estate shows that around 70% of Belgians believe that house prices in our country will never fall."
