2019 property market review

You will certainly have heard it more than once in 2019: the property market is changing rapidly!
As the new year begins, it is time to take stock of property market activity: what really happened? What events shaped the property market in 2019? We take a closer look.

In 2019, Belgium reached a new record, with property market activity increasing by 8.9% compared with the previous year. Flanders recorded an increase of 10.8%, Brussels 6.3% and Wallonia 6%.
There are two main reasons for this acceleration:

• low mortgage rates
• the abolition of the housing bonus in Flanders, announced for January 2020 (which therefore prompted some people to bring forward their purchase).

Overview – house prices in Belgium

In Belgium, house prices rose by 4.2% (including inflation of 1.2%) in 2019. Unsurprisingly, the increase was most pronounced in Brussels, at 5.5%.

Overview – apartment prices in Belgium

The average price of an apartment in Belgium rose by 4%. Once again, Brussels led the way with growth of 5.7%, compared with 3.8% in Flanders and 2% in Wallonia.

Please note that the average price of a house in Belgium in 2019 was 262 196€, compared with 228 566€ for an apartment. The difference in price is not particularly significant.

If you would like to continue reading about the property sector, we invite you to read our article on property investment in 2020. Or even view our available properties. It is important to plan for the future!