The prices of new residential property, houses and flats combined, continued to rise in Belgium in the second quarter of 2023, data reported in the New Construction Barometer shows.
Prices went up by 2.12% compared to the previous quarter, according to the Barometer, published on Tuesday by contractor Matexi in collaboration with real estate data platform Realo.
In the second quarter, the average price of a new house (3 facades, 3 bedrooms, garden) in Belgium rose by 2.12% over the first quarter.
In Flanders, prices followed a similar trend. With an increase of 1.58%, Wallonia saw the decline it recorded in the first quarter come to a halt.
The average price of a new house in Belgium now stands at €386,937. The provinces of Flemish Brabant and Antwerp are the most expensive, while the lowest prices are in Hainaut. In terms of municipalities, Kraainem is where you pay the most for a new home, whereas new homes are cheapest in Colfontaine.
The average price of new flats has also risen – by 1.09% on a quarterly basis – with major regional differences. In Flanders (-0.12%) and Brussels (-0.01%), prices remain virtually unchanged, while they have risen by 5.53% in Wallonia.
A new flat (95 square metres, 2 bedrooms) in Belgium now costs €291,888 on average. For flats too, Flemish Brabant and Antwerp are the most expensive provinces, while Hainaut and Liège are among the cheapest.
In terms of communes, the most expensive flats are in Woluwé-Saint-Lambert, while the most affordable ones are in Quaregnon.
“Price trends are in line with inflation and rising construction costs,” notes Roel Helgers, market economist at Matexi.
