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    Property prices up in second quarter

    © Belga
    In Flanders, average house price increases reached 2% in the second quarter (being an average price of €264,037). This increase was 4.5% in Brussels (with an average price of €434,606).
    © Belga

    The average price of a dwelling-house increased by 3% in the second quarter compared to the previous quarter, reaching €239,251. This emerges from the Baromètre des Notaires (this translates as the “Solicitor’s Barometer”) of the second quarter for 2017. This was published on Tuesday.

    This increase occurred after a decline in prices during the first three months of the year. In Flanders, the increase reached 2% (being an average price of €264,037). The Brussels comparator was 4.5% (an average price of €434,606) and 3.9% in Wallonia (being €183,670). The solicitors’ profession observes that this increase is noted across all of the Walloon provinces, except for Namur.

    The average price of an apartment in Belgium also increased by 1.9% compared to the first quarter of 2017 being €218,599. The increase throughout the period reached 2.4% in Flanders (being €224,493 ) and 1.1% in Brussels (an average price of €236.065), whilst the prices remained stable in Wallonia (an increase of just 0.1% to €171,788).

    As for the average price of building land in Belgium, it declined (with a reduction of 0.16%) to €138,246. However, the average price, per m2, increased by 5.3%, to €191.1.

    Moreover, the Baromètre des Notaires revealed a reduction of 1.4% in the number of second-quarter property transactions, after the historic record in the first quarter. In the second 2017 quarter, the number of property transactions decreased by 2.9% in Flanders, compared to the first quarter of 2017, whilst Brussels recorded a growth of 5%. The number of transactions remained stable in Wallonia compared to the previous quarter.

    The first six months of the year has not equalled the first six months of 2016. The same period last year saw a record number of property transactions in Belgium.

    Lars Andersen
    The Brussels Times