Knokke has been named the municipality with the highest price per square metre (m²) in Belgium, as the average cost for living space per m² is more than double that of the Belgian average.
The average flat price in Belgium per m² is €2,766 and the average house price per m² is €1,885, while in Knokke-Heist, people can expect to pay up to €5,242 per m² for a flat and €4,055 per m² when it comes to houses, according to a new tool launched by real estate website Immoweb.
This digital price map shows the average price per m² in a given municipality in Belgium, whilst it also allows people to calculate the price per m² per street in 12 cities, including in Brussels, Charleroi, Liège, Antwerp, Bruges, and Ghent.
An example of the map in Brussels. Credit: Immoweb.
When it comes to the most expensive municipalities per region in Belgium, seven out of the ten most expensive ones are located in the Brussels-Capital Region.
When looking at regional differences between Flanders and Wallonia, the average price per flat to the north of the language border is 30% higher than on the other side of the language border: €2,770 per m², compared to €2,105 in Wallonia, whilst the average price for a house is about €500 more expensive in Flanders.
The most expensive street in the country is also located in Brussels - the Rue du Buisson - where a m² of living space costs an average of €5,449.
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In Flanders, Knokke-Heist is followed by Nieuwpoort at the Belgian coast (on average €4,201 euros per m² for a flat) and Kraainem (€3,593 for a flat).
Meanwhile, in Wallonia, Ottignies-Louvain-la-Neuve takes first place with an average price per m² of €3,162, ahead of Waterloo (€2,819) and La Hulpe (€2,785).
According to Immoweb, the map, which also shows people the evolution of the market over the past ten years, is updated every month to show up-to-date prices, following market dynamics.
Based on the advertisement posted on Immoweb by other real estate agents, as well as the socio-demographic data, such as population, income and type of urban development, the website uses a machine-learning algorithm to calculate the value of a property.
