Brussels house prices rise by 53pc

5th May 2006, Comments 0 comments

5 May 2006, BRUSSELS — The Brussels housing market recorded a 53 percent rise in prices to a benchmark figure of EUR 350,000 last year as the number of family homes sold rose by 97 percent to 4,225.

5 May 2006

BRUSSELS — The Brussels housing market recorded a 53 percent rise in prices to a benchmark figure of EUR 350,000 last year as the number of family homes sold rose by 97 percent to 4,225. 

Real estate advice bureau Stadim said Brussels is by far the most expensive region in Belgium, leading Flanders which has a benchmark price of EUR 200,000 (a rise of 15 percent).

Nationwide, prices rose by 16 percent in 2005 and almost 81,000 single-family homes were sold, newspaper 'Het Laatste Nieuws' reported on Friday.
 
The number of apartments sold fell by 10,000 to 28,153. Prices rose by 13 percent to a benchmark of EUR 166,000.

The benchmark price is based on the assumption that 25 percent of residences are more expensive than that price and 75 percent are cheaper.

Vacant land also became more expensive last year, rising by 30 percent. Vacant plots are most expensive in Brussels (EUR 344 per square metre), compared with EUR 125 in Flanders and EUR 36 in Wallonia.

Besides financial-economic factors (inflation, purchasing power), the longer borrowing terms and yearly revisable interest rates are leading to higher prices.

[Copyright Expatica News 2006]

Subject: Belgian news

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