In the second half of 2019, the average price of a house in Belgium rose to 260,145 euros, an increase of 3.7% in comparison to the same period last year or an extra cost of about 10,000 euros, the quarterly property barometer of the notaries’ federation (Fednot) revealed on Tuesday.
The appeal of property to Belgians is not lessening, Fednot noted, since the second quarter of 2019 was the 2nd quarter with the most recorded property transactions since the barometer’s creation in 2007.
Over the first half of 2019, there were 7.7% more transactions than during the same period in 2018. This tendency is common to the three regions: 5.4% in Brussels, 7.2% in Wallonia and 8.3% in Flanders.
The average price of a flat stood at 229,820 euros in the previous quarter. In comparison to the second quarter of 2018, this represents an increase of +4.8% or an extra cost of 10,500 euros.
In the first six months of 2019, the average price of a house in Flanders and Wallonia increased respectively by 1.6% (to 281,954 euros) and 2.8% (to 194.531 euros) in relation to 2018. In Brussels, the average price hit 469,597 euros, an increase of 3.5%. The average cost is, therefore, higher by 82.8% than in the rest of Belgium.
Over the period 2014-2019, the average price of a house rose by 13.2%. As the inflation rate over the same period was 8.2%, its value, therefore, increased in real terms by 5%, the federation calculated. On average, a house today costs around 30,000 euros more than in 2014. Flats have increased in value by an average of 26,000 euros.