The value of real estate transactions conducted in Belgium increased by a record 8.9% last year, according to figures revealed on Tuesday by public notaries at this year’s “Semaine de l’immobilier’ (Real Estate Week) in Mons.
The increase was higher in Flanders (+10.8%) than in Brussels and Wallonia, (+6.3% and +6.0% respectively), according to the notaries, who explained that the boom in real estate activity was fuelled by low-interest rates on mortgages.
The average price for a home was €240,000 – the highest average ever in Belgium. However, there were huge disparities between the provinces, with prices ranging from €310,000 in Walloon Brabant to €145,000 in Hainaut.
Prices in Hainaut remained among the countries lowest even after increasing by €5,000 (+3.6%) last year. The district of Soignies had the highest median price – €190,000 – while Mons had the lowest – €125,000.
Apartment prices reached the 200,000-euro mark for the first time in 2019, having increased steadily over the past four years. Walloon Brabant was the only province in Wallonia where the median price for apartments was above the national and regional level of €200,000.
Apartment prices in Wallonia as a whole increased by at least 3%. For the first time ever, the average price in Hainaut climbed to €135,000, 15% lower than Liège, the second least expensive province, where the average apartment cost €155,000.
The median price of a house lot was stable compared to 2018, remaining on €120,000. Prices in Wallonia ranged from €52,000 in Luxembourg Province to €140,000 in Walloon Brabant. In Hainaut, the average price was €75,000.