It emerges, on Tuesday, in the latest Baromètre des Notaires, that the average house price in Belgium increased by 2.7% during the last quarter to €257,452. The figure is an increase of some €7,000, compared to the second quarter.
Bart van Opstal, the spokesman from notaires.be, explains that the increase results from very high demand. During recent months, the number of property transactions has increased by 5.4%. Mr van Opstal adds that this was the third heaviest volume for ten years.
The increase was highest in Flanders (up by 2.2% to €282,423) and in Wallonia (an increase of 2% to €193,410), compared to Brussels (up by 0.5% to €451,096).
The demand is mainly driven by the fear of buyers of seeing rates increase again. Notaries say that with supply being sufficiently high in Belgium, there is however no risk of seeing a price explosion.
The market for flats was stable (up by 0.8% to an average price of €220,925). It increased in Flanders (by 1.5% to €226,324) but decreased in Wallonia (down by 1.5% to €171,884) and in Brussels (a reduction of 0.7% to €237,880).