Real estate activity fell last year by 2% in Belgium and by 2.1% in Wallonia, but Hainaut was an exception; its property market was stable, according to the province’s Chamber of Notaries.
This can be explained in particular by the fact that Hainaut has the lowest prices on the Belgian property market, with averages of €170,000 for houses and €163,250 for flats, the Chamber said on Wednesday, on presenting the evolution of the provincial real estate market in 2022.
“Hainaut therefore remains the best province to invest in, both for first-time buyers with small budgets and for investors who can get more for the same price,” it said.
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Median home price of €170,000
House prices averaged €285,000 in Belgium last year, a 9.6% increase, and €202,500 in Wallonia (+ 6.6%). Hainaut was close to the regional trend, with a 6.3% increase in the median price, bringing it up to €170,000.
The most expensive houses were purchased in the district of Soignies, where the average was €226,500, a 2.7% increase.
Thuin registered the highest increase (+7.6%) with its houses averaging €177,500.
The median price in the district of Ath was €210,000 (+5%), in Tournai-Mouscron it was €185,000 (+5.7%), in Mons, €150,000 (+3.4%), La Louvière, €162,250 (+4.7%) and Charleroi €155,000 (+3.3%).
Flats up by 6.2%
The median price of flats in Hainaut went up by 6.2%, which was more than the increases at the national level (+4.9%) and in Wallonia (+5.7%).
Ath had the most expensive flats, with the median price stable at €198,500. The strongest increase, +16.7%, was recorded in La Louvière, where the median was €140,000. Apartments in Tournai-Mouscron averaged €169,500, a 13% increase.
Other significant increases were registered in Mons, where the median price went up by 9.4% to €175,000 and Charleroi (+9.1%, €125,500).
Lower increases were registered in Soignies (+2.9%, €184,308) and in Thuin (+1.6%), where the average flat went for €157,000.
House lots down by 2.9%
The average age of Hainaut’s home buyers in 2022 was 39 years.
The median price of garages in the province in 2022 was €15,000, the cheapest nationally in spite of a record increase of 25%.
The median price of house lots in the province was €82,500, a 2.9% drop, whereas the price went up by 9.4% nationally.
