Nearly half of Belgians (47%) believe that reducing registration fees in Wallonia or Flanders will make property ownership more accessible, according to the CBC Real Estate Observatory report released on Tuesday.
This reduction could create a virtuous cycle by enhancing housing mobility and boosting the construction sector, says Federia, the federation of French-speaking real estate agents.
As of 1 January, the registration fees for purchasing a primary residence dropped from 12.5% to 3% in Wallonia and from 3% to 2% in Flanders.
The CBC observatory, which surveyed over 1,000 people earlier this year, found that the decrease offers opportunities for prospective buyers. For a third of respondents (34%), high property prices remain the main barrier to starting a real estate project, followed by insufficient income (28%), financial resources (28%), and age (26%).
President of Federia Caroline Lejeune explained that the reduction sends a positive signal to the market and could promote housing mobility, with properties better matching the owners’ needs as their lives change. She added that buyers might use the saved money for renovations, positively impacting the construction sector.
Federia has already observed increased interest from prospective buyers in Wallonia since the announcement, especially among younger people.
"We had reached a point where a young working couple could no longer afford to buy a home without parental help," noted Caroline Lejeune.
