Property prices in Belgium continued to rise in the third quarter of this year, albeit less quickly than rocketing inflation, which stood at 11.27% in September.
The median price for a terraced or semi-detached house was €260,000 (+6.1% since last year); a fully detached house goes for a median price of €365,000 (+4.3%), while a flat became 5.9% more expensive to €235,000, a publication by statistics agency Statbel revealed on Monday.
Though prices have risen considerably compared to the same quarter in 2020 – a terraced or semi-detached house costs €40,000 more and a detached property €50,000 more – the year-on-year increase is a lot lower compared to a year earlier (between 2020 and 2021).
"In the third quarter of 2021, people were paying more than 11% more for a house than in the same quarter in 2020. For a flat, the price increase was 8.6%," Statbel noted in a press release.
This reflects a general cooling of the property market as a result of the energy and cost of living crises.
Brussels still most expensive
In keeping with previous trends, the Brussels-Capital Region remains the most expensive region in Belgium for all property types, with terraced and semi-detached houses fetching €499,000, detached houses costing €1,075,000 (median price) and flats going for €262,250. Yet the evolution of price increases has nonetheless slowed.
In relative terms, Wallonia is the cheapest region with a median price of €180,000 for terraced and semi-detached houses, €295,000 for fully detached houses and flats costing €175,000. Flanders finds itself in the middle, with these properties respectively costing €295,000; €400,000 and €240,000.
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Flemish Brabant and Walloon Brabant are the most expensive provinces, while the cheapest Flemish province is Limburg and the cheapest Walloon province is Hainaut. Ixelles is Belgium's most expensive municipality; the cheapest properties in the country can be found in Hastière.
