The 2024 property market: what you need to know about Brussels and Walloon Brabant

The year 2024 marks a stabilisation of the Belgian property market, with a slight recovery in sales and prices continuing to evolve. Brussels and Walloon Brabant are showing different trends depending on property type and municipality. Discover the key trends of 2024 and the outlook for 2025 in this article.

📊 A tentative recovery in the property market

After several years marked by economic uncertainty and high interest rates, the Belgian property market appears to be regaining some balance. Transactions increased (very) slightly in Brussels (+0.3%). In Walloon Brabant, prices showed contrasting trends, with decreases in some municipalities and increases in others.

More details in the notaries’ barometer. (PDF 1.6 MB)

🏠 Houses: prices still rising, but with marked disparities

In Brussels: a moderate but steady increase

• The median price of houses in Brussels increased by +1.0% in one year (-1.9% after inflation), reaching 500 000 EUR.
• Over five years, prices increased by +14.9%, but this increase falls to -5.2% after inflation. (Understanding the correlation between price trends and inflation)
• The most affordable municipalities : Anderlecht (198 000 EUR) and Molenbeek-Saint-Jean (206 000 EUR).
• The most expensive: Ixelles (669 250 EUR) and Woluwe-Saint-Pierre (700 000 EUR).

In Walloon Brabant: decreases in some municipalities

• With a median price of 370 000 EUR, Walloon Brabant remains the most expensive province in Wallonia for houses.
• After several years of increases, prices fell by -1.3% in 2024 (-4.2% after inflation). Since 2020, average house prices have risen by +14.9%.
• The most expensive municipalities: Lasne (610 810 EUR), Waterloo, La Hulpe and Rixensart.
• Most affordable: Hélécine (250 000 EUR), Rebecq and Tubize.
• Significant decreases in Incourt (-13.6%) and Perwez (-13.9%), while Wavre (+8.2%) and La Hulpe (+8.3%) recorded marked increases.

🏢 Flats: prices rising gradually

In Brussels: slower growth

• The median price of flats increased by +2.6% in 2024.
• After inflation, prices fell by -0.4%.
• Flats account for 70.3% of transactions in Brussels, the highest proportion in Belgium.
• Lowest prices: Anderlecht (198 000 EUR) and Molenbeek (206 000 EUR).
• Highest prices: Ixelles (350 000 EUR) and Woluwe-Saint-Pierre (300 250 EUR).

In Walloon Brabant: a recovery following a decline in 2023

• The median price of flats reached 250 000 EUR, up after a more challenging year in 2023.
• This province ranks 4th in Belgium for flat prices, behind Brussels and certain Flemish provinces.
• Highest prices: Waterloo, Lasne and Chaumont-Gistoux.
• Lowest prices: Ottignies-Louvain-la-Neuve and Tubize.
• Flat prices fell in Wavre (-3.8%), Tubize (-7.0%) and Braine-l’Alleud (-12.9%), while increasing slightly in Waterloo (+2.5%).

🏙️ Significant variation across regions

Price differences remain very pronounced, even between municipalities within the same region.

In Brussels, 50% of houses sell for between 365 000 EUR and 680 000 EUR, representing a difference of 315 000 EUR, much wider than in Flanders (191 000 EUR) or Wallonia (150 500 EUR).

In Walloon Brabant, the median price is 370 000 EUR and the range containing 50% of observations is between 275 000 EUR and 496 500 EUR, representing a difference of 221 500 EUR.

🔍 Marked inequality between municipalities and regions

These figures show that Brussels and Walloon Brabant have particularly high levels of variation in the property market.

✔️ A highly segmented market in Brussels
The price differences are striking between the most affordable municipalities such as Anderlecht and Molenbeek-Saint-Jean and the most sought-after neighbourhoods such as Woluwe-Saint-Pierre and Ixelles. The range of properties on offer is varied, but affordability remains a challenge, especially for young households.

✔️ In Walloon Brabant, there is a very sharp contrast between municipalities. The price differences between Lasne (610 810 EUR) and Hélécine (250 000 EUR) illustrate the diversity of the Brabant property market. Unsurprisingly, municipalities close to Brussels with good transport links remain the most expensive, while more remote areas offer more affordable opportunities.

The variation in the property market in Brussels and Walloon Brabant reflects strong price segmentation and contrasting trends depending on the area. While some neighbourhoods remain beyond the reach of many buyers, others still offer opportunities, particularly for those prepared to move further away from the most expensive urban centres.

👥 Who is buying in Belgium in 2024?

• The average age of buyers is 39 years.
• The largest group is 26- to 30-year-olds, who generally favour flats.

After the age of 50, buyers tend to favour flats, while young families continue to look for houses.

🔮 What is the outlook for 2025?

It is difficult to make precise forecasts, but several trends are emerging:

At national level, Brussels remains a city where property is expensive, but price growth is slowing. Demand remains strong, particularly for flats (70.3% of sales), but inflation and interest rates are weighing on households’ purchasing power.

Walloon Brabant remains a sought-after area, but the price correction in some municipalities shows that buyers are paying closer attention to market conditions. The appeal of the most expensive municipalities is beginning to encounter more cautious demand, particularly due to interest rates.

Overall, buyers will be more cautious in 2025. Reduced purchasing power and more difficult access to credit will encourage them to take more time when buying and to negotiate prices more vigorously.

However, one major factor could influence the Walloon market: the reduction in registration duties from 12.5% to 3%. This measure could stimulate demand, particularly in attractive areas such as Walloon Brabant, limiting price falls or even reigniting growth in municipalities where demand is strong. However, the actual impact will depend on changes in interest rates and households’ borrowing capacity.

🏁 Conclusion: a changing market

The year 2024 marked the end of a cycle of strong price growth, with stabilisation in Brussels and localised falls in Walloon Brabant. The market is becoming more selective, with buyers paying closer attention to properties’ true value and financing costs.

👉 In 2025, we can expect a rational market: no euphoria, more negotiations and an increasingly clear balance between supply and demand.

📌 For sellers: it will be crucial to align the asking price with the actual market to avoid excessively long selling times.
📌 For buyers: caution and patience will be essential, but opportunities may emerge, particularly in municipalities where prices are beginning to correct.

In short, the property market in 2025 will be neither entirely on the rise nor in crisis, but rather in a period of adjustment following several years of sharp fluctuations.