‘Impossible to buy a home’ for two-thirds of people aged 21-35
Share article:
Share article:

‘Impossible to buy a home’ for two-thirds of people aged 21-35

Credit: Belga

Two-thirds of non-home-owners between the ages of 21 and 35 in Belgium feel buying a home is currently impossible, and 10% said they believed it would never be possible.

Even those with a high level of education and income, most young people feel they are excluded from buying their own property due to a lack of sufficient resources, according to a survey of 2,000 people in Belgium commissioned by the financial advice firm Immotheker Finotheker.

“This is a worrying development. We need to be able to offer our young people prospects. Because if they have to keep putting off buying their own home, they may end up giving it up altogether sooner or later,” said John Romain of Immotheker Finotheker.

Related News


The inability of young people to buy property could have a dramatic effect on the poverty rate in Belgium, according to the consultancy firm, as evidence has shown that people over 65 who do not own their own homes are at a much greater risk of falling into poverty.

“House prices have reached record levels, and combined with an interest rate on savings close to 0%, which pushes savers to invest in real estate, a toxic cocktail has been created, that caused a marked increase in prices and makes real estate inaccessible to first-time buyers and especially to young and single people,” Romain explained.

In the last decade, the proportion of young people under 35 who have taken out a home loan through the advice bureau has dropped by 20% to 41%. The financial advice firm has called on the government to adjust regulations to solve this issue.

More and more young people are having to postpone the purchase of their first home, which has resulted in the average age of property buyers in our country going up to 42.

Within this age group, only 43% are currently homeowners, half of whom say they received help from their parents or other family members, 37% received some money and 16% were able to borrow from their parents. With a few exceptions, the average amount received from parents is €58,031.

For more than half of the young Belgians (53%) who bought a home during the pandemic, the search took less than three months, whereas this was the case for only 40% of buyers in the last five years (before the coronavirus crisis), a survey conducted by Axa among 1,000 young people (22-35 years old) found.

Latest news

More women take police selection tests in Belgium
The selection tests to become a police inspector have more and more female participants, according to figures released by Interior Affairs Minister ...
‘Absurd’: all Brussels schools should have the same Covid rules
Several city councillors for education in Brussels are calling to abolish the "absurd" differences in coronavirus measures for Dutch-speaking and ...
Massive renovations for iconic venue in the heart of Brussels
Brussels concert hall Ancienne Belgique has announced plans to renovate the AB Café and the AB Salon and is looking for a contractor fit for the job. ...
Display of child’s room in Brussels raises awareness of foster families
An exhibit that features a fictitious child’s bedroom has been on display since Tuesday at the Place d'Armes in Namur, with the support of the ...
Test results show pupils have fallen behind in Flemish schools
Learning delays have been reported in almost all subject areas in Flanders since the start of the pandemic, a trend that continued in 2021, a ...
Belgium considers relaxing testing rules for UK travellers
At the next Consultative Committee meeting, Belgium will look into relaxing the testing and entry policy for travellers coming from the United ...
Jette libraries start giving plants away with books
Visitors to libraries in the Brussels municipality of Jette will soon be able to pick up a free plant along with a book, thanks to the new Plantotek ...
‘Do what you want, but do it as safely as possible,’ experts warn
As the daily number of new coronavirus infections exceeds 3,000 for the first time since May, infectious disease expert Erika Vlieghe and ...
‘We’re running dry’: Brussels teacher shortage reaches critical levels
The teacher shortage in Brussels is affecting schools across language borders, according to Brussels’ Minister for Multilingualism and Dutch ...
Belgium in Brief: Getting To The Airport
When I saw the news of plans for a tram line and cycle path to connect Brussels' outskirts to the airport, my first reaction was sheer joy.  Let ...
EU should invest €5 trillion in climate plan, says State Secretary for Economic Recovery
The European Union must invest €5 trillion in its climate plan over the next decade to "retain its credibility as a political project," according ...
Brussels café managers ask for security guards following stabbing over vaccination proof
Managers of cafes in Brussels are asking to be provided with security guards if they’re to continue enforcing rules surrounding proof of vaccination, ...