The number of sales on Biddit, the online sales platform of Belgian notaries, has fallen this year due to the cooling of the property market, according to the Fednot notarial federation on Thursday.
Biddit is celebrating its fifth anniversary and has grown steadily, from 3,964 sales in 2019 to 9,038 in 2022. But its sales are down this year, with the counter standing at 4,893 at the end of August.
According to Jan Sap, Managing Director of Fednot, the platform has become an essential reference point for property buyers and sellers: "The combination of transparency and user-friendliness has clearly caught on. Buying a property through Biddit is quick and the final buyer doesn't have to wait before being able to sign the notarial deed allocating the property to him or her."
The site is popular thanks to the transparency of the bidding process and the ease of concluding a sale. Buyers have access to the property as soon as they have paid the winning bid, which must be no more than six weeks after the auction concludes. The website predominantly lists houses, which account for 62% of the total, compared with 16% for land and just under 14% for flats.
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Antwerp and East Flanders are the provinces that sell the most property on Biddit (just over 17% each). Walloon Brabant has the lowest share at 2.7%.
A property sold this year cost an average of €220,004, compared with €225,820 in 2022. "There are on average six bidders per sale, who together make an average of 45 bids", Fednot added.
