The rise of real estate prices in Belgium has slightly slowed down, with the annual inflation rate for house prices falling to 5.9% in the second quarter of this year, compared to 6.5% in the previous quarter, Belgium’s statistics agency Statbel reported on Friday.
In the last year, the average inflation rate for house prices reached 6.7%. In the second quarter of this year, annual inflation now stands at 7% for new housing and 5.5% for existing houses.
- Rent in Brussels soars past €1000/month
- Homes in Flanders increasingly more energy efficient than standards require
Compared to other countries, the inflation on houses in Belgium is considerably less than in neighbouring countries. In the first quarter of this year, the inflation rate for house prices amounted to 6.5%. In the Netherlands, this figure was 15.9%. In France, inflation amounted to 7.1%, and in Germany– 12%. Average inflation across the Eurozone for house prices was 10.1%.
Statbel warns, however, that its index only measures the pure evolution of prices, without taking into account other qualitative changes on the housing market.