Highest rises in house prices in Belgium

16th June 2006, Comments 0 comments

16 June 2006, BRUSSELS — House prices rose 17.1 percent in Belgium, the highest rate across the eurozone, the European Central Bank (ECB) said on Thursday.

16 June 2006

BRUSSELS — House prices rose 17.1 percent in Belgium, the highest rate across the eurozone, the European Central Bank (ECB) said on Thursday.

Coming off the back of 10.7 percent price rises in 2004, the rate of prices rises in Belgium increased to 17.1 percent last year.

The ECB figures are slightly higher than those given by research bureau Stadim, which said in May that house prices in Belgium rose by 16 percent.

Only the increases in France and Spain were almost as high as in Belgium, newspaper 'De Tijd' reported.

But there are indications that the housing market in Belgium is starting to slightly cool off.

The tempo of the price rises reached a peak of 18.8 percent on an annual basis in the second quarter of last year and slowed to 16 percent in the fourth quarter.  

Prices in Brussels increased the most, rising by 50 percent last year.

Stadim said a quarter of the increase in prices can be attributed to improved quality. Low interest rates and the federal government's fiscal amnesty have also led to price rises.

[Copyright Expatica News 2006]

Subject: Belgian news

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