In 2024, prices for new construction showed signs of stabilization after several years of sustained increases, according to the latest New Construction Barometer, developed by Matexi and Realo.
THE apartments saw their prices increase by 2.24% and houses by 3.48%, mainly during the first half of 2024. However, in the fourth quarter, the prices of new apartments fell slightly (-0.11 %), while those of houses recorded a moderate increase of 0.4% compared to the previous quarter, according to the New Construction Barometer*, developed by Matexi and Realo.
This stabilization marks a break with previous years, where increases reached 7.5% in 2022 and 4.5% in 2023. The Barometer underlines that this development could indicate an improvement in the accessibility of new goods, although the prices remain high overall.
An economic context under tension
Between 2021 and 2024, the prices of houses et apartments New construction increased by 15.8% and 14.7% respectively, mainly due to rising construction costs. At the same time, general inflation (+15.5%) and the increase in mortgage interest rates (from 1.38% in 2021 to 3.03% in October 2024) have reduced the borrowing capacity of households, limiting their purchasing power. Despite the indexation of wages, Belgian households must now compensate for a 16.3% increase in their financing costs, which reduces their ability to access property.
Outlook for 2025
The structural imbalance between supply and demand remains, aggravated by a low number of building permits issued. To respond to the housing crisis, reforms are necessary, particularly at the tax level, in the simplification of permit procedures and via public-private partnerships, argues the Barometer.
Local differences in price developments
The latter also highlights significant price variations between municipalities. Areas where prices are already high have seen faster increases, highlighting disparities in affordability.
*The Barometer uses data from real estate listings, public sources and other online databases to accurately track trends. The typical properties studied are a three-sided house of 160 m² and an apartment of 95 m².
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