Apartment prices down on the coast amid real-estate boom

Apartment prices down on the coast amid real-estate boom

Prices of apartments on the Belgian coast were down last year for the first time since 2014 amid record real estate sales, according to Fednot, the national federation of notaries. The year 2018 saw a record 15,395 real-estate transactions on the coast, an increase of 0.6% compared to 2017, Fednot noted in its latest coastal barometer. The fourth quarter, in particular, was “the best quarter since the start” of the barometer: a “striking number” of transactions were recorded, 30% more than the other months of the year, it stressed.

The overall number of transactions went up by 30% between 2014 and 2018. Average apartment prices were down for the first time since 2014, sliding by -2.4% compared to 2017. The average coastal apartment sold at 259,456 euros in 2018. Nevertheless, for the 2014-2018 period, apartment prices still increased – by 5.4%.

On the embankment, an apartment cost an average of 320, 620 euros, 1.4% less than in 2017. Over the 2014-2018 period, average apartment prices there went up by 11.4%.

The least expensive communes were Blankenberge, Du Panne, Middelkerke and Westende, with prices averaging less than 200,000 euros and as low, on average, as 160,000 in Westende. The most expensive ones were Heist-aan-Zee and Knokke, with average prices of 342.025 and 473.112 euros.

The Brussels Times

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