In the first six months of the year, it cost an average of €314,666 to buy a house in Belgium, and €257,839 for a flat. According to the latest data from the , the average price of a house increased by 6.3% in the first half of the year compared to the annual average for 2021. For a flat, the increase is 2.4%. With an average price of €565,866 for a house, the Brussels region remains the most expensive in the country.
10% increase for an existing flat
Although the province of Luxembourg is not the most expensive in the country nor the most expensive in the Walloon Region, it is the one that has seen the most significant increase in prices. In the first six months of the year, it cost an average of €249,514 for a house in the province of Luxembourg (+6.1% in the first half of the year compared with the annual average for 2021) and €204,421 for a flat (+8.3% in the first half of the year compared with the annual average for 2021).
Indeed, the average price of an existing flat in the province of Luxembourg (€180,462) has increased by 10% compared to 2021, far ahead of East Flanders, which shows an increase of 6.9% for the same type of property.
In comparison, in the Walloon Region as a whole, prices have risen by 2.5% for a house and by 4.8% for a flat. Still in Wallonia, the province of Walloon Brabant has the highest prices, with an average of €408,087 for a house and €260,230 for a flat.
It should also be noted that the province of Luxembourg only accounts for 4.6% of the country's transaction volume. Conversely, West Flanders is the most dynamic in this respect, accounting for 13.1% of the volume of transactions in Belgium in the first half of the year.
Detail for the province of Luxembourg. (Illustration: screen capture/Notaries' barometer)
Overall, real estate activity in Belgium decreased slightly by 1.8% in the first six months of the year. The northern provinces of the country were more dynamic than the southern provinces of the kingdom. In detail, with 15.8% of the total volume of transactions in the country, the province of Antwerp was the most dynamic during the first six months of the year. In contrast, with only 3% of the country's total transaction volume, the province of Walloon Brabant is the least dynamic in terms of real estate activity.
This story was first published in French on . It has been translated and edited for Delano.