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In the third quarter of 2023, the prices of newly built real estate in Belgium continued to rise, despite ongoing indications of a cooling in the overall property market. The differing trends between the regions continue. Especially in the segment of new-build houses, Flanders and Wallonia are drifting apart.
Building land prices in Belgium have increased by 27% since 2019, reaching 180 euros per square meter, mainly due to exceptional price hikes in 2020 and 2021. Significant differences still exist between the regions. Analyses from the real estate data platform Realo provide new insights into the price evolution of building land in Belgium, as no data is available after 2014.
Real estate in Belgium became slightly more expensive in the second quarter of 2023: house prices rose by 1.12%, and apartment prices by 1.23%. This is noteworthy, as the last time prices rose this much dates back to mid-2022.