Property prices in Belgium rise considerably in just one year

Property prices in Belgium rise considerably in just one year
Credit: Belga

The median price of various types of houses in Belgium has increased by between 9% and 11% since this time last year, recent figures from the Belgian statistics office Statbel show.

For a detached house, the median price in the third quarter of 2021 was €350,000 – up by €35,000 since this time last year. Meanwhile, the price for a terraced or semi-detached house went up by 11.4% to €245,000 at the end of 2021.

The price for a flat also increased in Belgium by approximately 9%, with the medium price across the country rising from €204,500 to €223,000, the Statbel figures based on sales deeds registered by the Federal Public Service Finance showed.

Meanwhile, a first-ever price barometer of real estate listings published by real estate agent Immoweb showed that property prices in Belgium have risen by 28% in ten years, reaching €2,164 per square metre on Tuesday. The barometer is based on the advertisements published by estate agents, owners and notaries on the platform.

Wallonia remains cheapest, Brussels most expensive

According to the Statbel figures, the most expensive municipality for houses in Belgium is Ixelles, Brussels – an area dotted with opulent mansions where the median price is €850,000; the cheapest is Froidchapelle in the Wallonia region, where the median property price is €82,000.

Overall, the Wallonia region has the lowest real estate prices, with a median price of €170,000 for terraced or semi-detached houses (+9%) and €280,000 for detached houses (+11.6%).

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In the Brussels region as a whole, the median price for a detached house is 3.2 times more expensive than the Belgian median, at around €1.1 million. A semi-detached or terraced house is slightly more than double the cost, with a median price of €481,000.

In Flanders, the cost of an apartment also increased by around 9% with the median price €225,000 in the third quarter of this year. Semi-detached or terrace houses became 9.6% more expensive with a median price of €274,000. The median price of detached houses increased to €380,000.

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