In Belgium, real estate prices increased by 3.6% in one year, according to Statbel. The outlook for 2025 foresees a recovery in the market, but also (and still) an increase in prices.
Between the third quarter of 2023 and that of 2024, housing prices in Belgium recorded an average annual increase of 3.6%.
However, this inflation varies depending on the type of property. New housing showed a more marked increase, with an increase of 5.2%, compared to 3.2% for existing housing.
Regional differences are also significant. In Wallonia, prices of existing housing jumped 3% over one year, compared to an increase of only 0.3% three months ago. In Flanders, the increase reached 3.6%, while in Brussels it remained more moderate, at 1.4%.
Prices still rising
After two years of slowdown, the real estate market should start to rise again in 2025.
Economists anticipate an increase in the number of potential buyers, driven by several factors:
- The increase in salaries: In January, many households will see their salaries indexed, with an expected increase of more than 3%.
- The stability of interest rates: Although they are higher than a few years ago, borrowing rates have stabilized, thus reassuring potential buyers.
- The reform of registration fees in Wallonia: From January 2025, registration fees will drop from 12% to 3% for the purchase of a first property, making real estate acquisition more accessible
Increased competition
Despite these favorable elements, buyers will have to deal with increased competition in the market. A growing number of potential buyers, coupled with a still limited supply, will continue to push prices upwards.
According to a study carried out by the ING bank, property prices are expected to grow on average by 3% in 2025, and by 3.8% in 2026.
If the market revitalizes, it therefore remains under the influence of the law of supply and demand, with obvious repercussions on household portfolios.
Real estate prices Belgium real estate inflation investment
