Real estate prices keep going up, 3 of the 5 most expensive municipalities are situated in Brussels
House prices in Belgium keep rising, despite the consecutive crises. That’s according to figures released by the Belgian statistics agency Statbel. The Brussels Region remains the most expensive region to buy a property. Prices for semi-detached and detached houses rose faster than in the rest of the country. The priciest Flemish province is Flemish Brabant.
The median price of a Flemish terraced or semi-detached house was 280,000 euros in the first semester of the year, which is 7.7 percent up on the year. This was 230,000 euros for an apartment (+6 percent) and 390,000 for a detached house (+6,8 percent). The price hike is a bit lower than last year, but remains substantial. Taking into account the price hikes of the past two years, an average terraced or semi-detached house costs 43,000 euros more now.
The most expensive Flemish province remains Flemish Brabant. Limburg province is the cheapest place. The most expensive municipality in Flanders is the coastal resort of Knokke-Heist, followed by Sint-Martens-Latem and Sint-Genesius-Rode. At the other end of the table are Menen, Wervik (both in West Flanders) and Ronse.
However, the Brussels Region remains by far the priciest place to find a new home. Median prices were at 486,000 euros for a terraced or semi-detached house in the first semester (+12 percent on the year), 250,000 for an apartment and 1,15 million for a detached house.
The top-5 of the most expensive municipalities in Belgium includes 3 Brussels municipalities: Elsene (750,000 euros), Sint-Pieters-Woluwe (685,000) and Ukkel (675,000). Elsene is top of the bill, joint with Knokke-Heist. The median price means that half of the properties were sold above this price and another half below this threshold. It is, as such, not an average price.