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Statbel, the Belgian national statistics office, has published the results of the real estate sector in the first quarter of 2018, which have been marked by an increase of nearly 3.5 percent in the report for the same period in 2017. Apartments are the properties most affected by this price increase. Overall, these are the highest prices ever recorded.
Since 2010, real estate has experienced regular inflation, and this trend has continued into 2018 albeit with a slightly less pronounced increase. However, there are significant differences between residential properties and apartments, which translate into growth variations ranging from 1.3 percent to 3.5 percent.
In Flanders, Statbel finds that houses are the category most affected by price increases (+ 2.7 percent). According to published figures, a residential villa is valued on average at 384,952 euros, while an apartment has an average price of 232,564 euros. The Limburg region, for its part, took first place among the most affordable areas, with an average of 203,739 euros for a traditional house.
Conversely, Flemish Brabant has seen the prices of residential houses rise enormously, exceeding 273,000 euros. Among the municipalities least affected by this price increase, Gingelom has managed to contain real estate rises: you can become the happy owner of a house with 135,733 euros. At the top of the rankings is Wezembeek-Oppem, where a similar sized property costs approximately 414,063 euros.
How did the real estate sector in Wallonia react in the first quarter of 2018? Statbel reveals that the average cost of an ordinary house was 164,583 euros, while a villa was valued at an average of 289,618 and an apartment at 172,186 euros.
There is some good news for buyers, the prices of apartments have actually decreased! The average decrease of 4.2 percent is in line with the increase in residential houses (+ 3.2 percent) and, to a lesser extent, villas (+ 2.2 percent). Hainaut offers the best buying opportunities out of all the regions, with an average cost of 135,818 euros for an ordinary house. Walloon Brabant, however, tops the list with an average of 284,782 euros for the same property category. In the towns, Gedinne is a place where it is possible to buy a house for the average sum of 86,800 euros. Lasne has an average price of 576,154 euros.
In Brussels
As expected, the Brussels-Capital Region is at the top of the ranking table. In the first three months of 2018, prices were the highest in the country. To purchase an ordinary house, it was necessary to pay on average 442.726 euros and not less than 1.122.510 euros for a villa. An apartment costs 250.137 euros.
Compared to the figures for the same period over the previous year, this is literally a property boom: about 12 percent for the first two real estate categories and a 5.9 percent increase for apartments. Molenbeek-Saint-Jean is the cheapest area, since the average price, according to Statbel, amounts to 258.031 euros for an ordinary house. Ixelles wins the prize for the most expensive homes, with an average of 714,592 euros.
This document describes in detail 19 zones covered by our 23 real estate agencies throughout the country and contains a complete study
that gives the reader a general overview of the market as a whole in a concise, easy-to-follow manne.
It examines the price trends for houses and apartments for sale or to let in 2017.
The figures and analyses are based the long standing expertise of our real estate teams and local agencies.
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