Homes 10 pc more expensive

20 April 2007

BRUSSELS – The price of houses and apartments in Belgium rose about 10 percent last year, making it another top year for the real estate market, says research and consultancy bureau Stadim.

Nationally the reference price for a single-family home is now EUR 215,000, and EUR 180,000 for an apartment. There are also signs that prices may begin to stagnate however.

The number of sales of houses, apartments and building lots fell last year, especially during the second half of the year. “A drop in prices always follows a drop in the number of transactions,” says Paul De Wael of Stadim. The bureau expects a slight increase in prices this year of 1.5 to 2 percent.

Turnover in the entire secondary real estate market, including the sale of non-residential buildings, agricultural lots and forests, increased last year by 8 percent to EUR 29.25 billion.

Subject: Belgian news