No less than 43% of young people aged between 20 and 25 years old hope to become home owners within a maximum of five years and 46% within ten years. This is according to the Blavier Report on Property market trends in Belgium, said Stefan Hallez, Marketing Director for Maisons Blavier, on Tuesday morning. One young person in two wants to buy a habitable house while one in five wants to buy and renovate a house. Around 14% want to build a house and 13% want to buy an apartment. Paradoxically, 49% of young people acknowledge it will be impossible before their forties.
The economic crisis is being felt: 45% of Belgians have no confidence in the future, compared to 30% last year. They are worried about the housing bonus, tax and income tax rises, high energy prices, as well as the suppression of public bonuses and tax rebates. “People do not give up on their dream, but adapt. In an uncertain market, property is a refuge”, says Nicolas Bernard, professor at the Saint-Louis University, a specialist in property.
Currently, the building sector is receiving more requests for building permits following the announcements of changes in the measures on energy efficiency, as well an increase in mortgage credit due to new measures on housing bonuses. “The market has not yet come out of the economic crisis, it’s just temporary”, says Stéfan Hallez.
Maria Novak (Source: Belga)