Belgian real estate "will pick up in 2010"
The Belgian real estate market is expected to undergo a resurgence in the second half of 2010.
The prices are expected to start rising again and the trend should continue further into 2011. This is the prognosis of Trevi Corporate Real Estate Group.
Trevi Corporate Real Estate Group makes predictions every year based on their 'Trevi-index'. The index rose slightly from the end of September to the end of the year, from 108.19 to 108.39 points. According to the real estate group prices in the sector dropped in 2009 by an average of 5 to 10%, but in the second half of the year prices started to stabilise.
The real estate group expects higher prices in the second half of 2010, making it more difficult for lower income families to buy their own home.
According to the group, the real estate market did not collapse in Belgium in 2009 thanks to a Belgians propensity to put money aside. This meant that Belgians, even in an economic downturn, were able to show: "maturity as regards residential real estate", according to Trevi Real Estate. "There was never talk of a large buffer stock or of general panic in the market," says the real estate group.