Recovery of the real estate market: housing prices are expected to increase by 3% in 2025

Real estate transactions will pick up again in 2025, supported by better accessibility and measures such as reduced registration fees.

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Experts anticipate a change in buyer behavior, held back until now by the hope of a significant drop in interest rates. “Incomes will continue to be indexed in a market which should become more accessible”observes ING. In addition, the reduction in registration fees in Wallonia could encourage an increase in real estate acquisitions.

A gradual rebound expected in 2025

According to ING, the Belgian real estate market should experience a gradual recovery in 2025, marked by an increase in the number of transactions. This dynamic could generate upward pressure on prices, with growth estimated at 3%. After two years marked by a wait-and-see attitude among buyers, this trend can be explained in particular by an improvement in accessibility to property in 2024.

Philippe Ledent, economist at ING, stressed that the indexation of income, in response to recent inflation, combined with a slight decline in interest rates, contributed to this improvement. However, he warns that mortgage rates will not return to their pre-2022 levels, prompting households to revise their expectations.

Long-term prospects still uncertain

The National Bank of Belgium (BNB) shares a similar observation. According to Geert Langenus, chief economist of the institution, “the trough of the wave has passed”but the recovery in residential investment will remain slow. The decrease in building permits since 2021 can be explained by administrative delays and uncertainties linked to building renovation objectives.

At the same time, the volume of residential investments remains 6% lower than in 2019. Although the market is showing positive signals, Pierre Wunsch, governor of the BNB, warns that mortgage rates are not expected to decrease further in the immediate future. .