House prices appear to be stabilizing in Wallonia and Brussels, but are still rising in Flanders. In 2023, you paid an average of 410,000 euros for a detached house, 245,000 euros for an apartment, with enormous regional differences. In Knokke-Heist the median price is 737,000 euros, in Menen 180,000 euros.
After the Notary Barometer, Statbel, the Belgian statistical agency, has now also released the real estate figures for the full year of 2023. These are based on the sales deeds registered at the land registry and confirm the trend: the decrease in the number of sales does not lead to a decrease in house prices. In Flanders, prices have even risen by 4.6 percent for closed and semi-detached buildings, and by 3.8 percent for detached houses. Apartments are 4.3 percent more expensive.
In Wallonia and Brussels, prices are stabilizing, with slight increases of less than one percent. It is remarkable that in Brussels the median price for a detached villa has fallen by 18.9 percent, from 1,150,000 euros in 2022 to 932,500 euros in 2023.
Brussels remains the most expensive region. Houses in closed or semi-detached buildings cost 495,000 euros, apartments 256,500. In Wallonia this amounts to 176,000 euros and 180,000 euros respectively. The median price for a detached house is 290,000.
In the Flemish Region, houses in closed or semi-detached buildings cost 298,120 euros, for houses in open buildings the price level is 410,000 euros and for apartments 245,000. Limburg is the cheapest province in the Flemish Region and Flemish Brabant the most expensive. In the Walloon Region, the cheapest province is Hainaut and the most expensive is Walloon Brabant.
The most expensive municipalities are Knokke-Heist and Sint-Martens-Latem. There the median prices exceed 700,000 euros. They are followed by wealthy Brussels peripheral municipalities such as Kraainem, Wezenbeek-Oppem, Sint-Genesius-Rode or Overijse, where median prices fluctuate around 600,000 euros. That is four times more expensive than in the cheapest municipality of Menen, where a house costs 180,000 euros. The other last ones are Ronse, Lo-Reninge, Wervik and Izegem, all in West Flanders. (ls)
