The annual inflation rate observed for house prices is up by 0.3 percentage points over one quarter, rising from 2.8% in the last quarter of 2023 to 3.1% in the first quarter of 2024.
This increase, revealed on Monday by the Belgian statistics office Statbel, is mainly due to a significant rise in the inflation rate for new homes.
Annual inflation for new housing rose to 6.9% in the first quarter of 2024, compared with 2.9% in the previous quarter, according to Statbel. This is the highest rate for more than two years. Annual inflation is more limited for existing homes, at 2.3%, compared with 2.7% in the previous period.
The annual inflation rate for house prices is higher in Flanders (2.8%) than in Brussels (1.5%) or Wallonia (0.9%), Statbel reports.
The house price index is based on data on property transactions from the Federal Public Service Finance.
