Knokke has been named the municipality with the highest price per square metre (m²) in Belgium, as the average cost for living space per m² is more than double that of the Belgian average.
The average flat price in Belgium per m² is €2,766 and the average house price per m² is €1,885, while in Knokke-Heist, people can expect to pay up to €5,242 per m² for a flat and €4,055 per m² when it comes to houses, according to a new tool launched by real estate website Immoweb.
This digital price map shows the average price per m² in a given municipality in Belgium, whilst it also allows people to calculate the price per m² per street in 12 cities, including in Brussels, Charleroi, Liège, Antwerp, Bruges, and Ghent.
When it comes to the most expensive municipalities per region in Belgium, seven out of the ten most expensive ones are located in the Brussels-Capital Region.
When looking at regional differences between Flanders and Wallonia, the average price per flat to the north of the language border is 30% higher than on the other side of the language border: €2,770 per m², compared to €2,105 in Wallonia, whilst the average price for a house is about €500 more expensive in Flanders.
The most expensive street in the country is also located in Brussels - the Rue du Buisson - where a m² of living space costs an average of €5,449.
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In Flanders, Knokke-Heist is followed by Nieuwpoort at the Belgian coast (on average €4,201 euros per m² for a flat) and Kraainem (€3,593 for a flat).
Meanwhile, in Wallonia, Ottignies-Louvain-la-Neuve takes first place with an average price per m² of €3,162, ahead of Waterloo (€2,819) and La Hulpe (€2,785).
According to Immoweb, the map, which also shows people the evolution of the market over the past ten years, is updated every month to show up-to-date prices, following market dynamics.
Based on the advertisement posted on Immoweb by other real estate agents, as well as the socio-demographic data, such as population, income and type of urban development, the website uses a machine-learning algorithm to calculate the value of a property.