Monthly consumer price index of housing rent in Belgium 2019-2020
How much is the CPI of rents in Belgium? In December 2020, the Consumer Price Index reached a value of around 111.6 in the country. This is an increase of more than 3.5 percent when compared to the same month in the previous year. According to Belgium’s house price-to-rent ratio, the country’s housing market might suffer from pressures. This ratio, based on the nominal purchase price of a house divided by the annual rent of a similar place, is normally used to show the undervaluation or overvaluation of real estate prices and aims to give an indication whether or not it is cheaper to buy or to rent residential property. In 2017, the ratio reached an index value of 104.3. This was the highest value reached since 1990, suggesting that it was more beneficial to buy than to rent.
How much does a house cost in Belgium?
In 2018, a house in Belgium would cost approximately 251,584 euros. There are, however, large differences between the three regions that exist in the country. A house in Flanders (the Dutch-speaking region) cost around 277,000 euros in 2018, whereas a residential dwelling in the French-speaking part of the country (Wallonia) was priced at 189,000 euros. The Brussels-Capital Region (the city of Brussels and its surrounding villages) was the most expensive: 452,700 euros on average.
Building permits are increasing
Like in other European countries, housing prices and rents have increased due to a shortage of residential real estate. Demand increased, whilst supply could not keep up. The number of issued building permits increased, however, in Belgium. In 2018, approximately 22,000 building permits were issued for newly constructed houses in Flanders, an increase of roughly 6,000 permits compared to the previous year. This number increased by roughly 190 permits in Wallonia, whereas the Brussels-Capital Region saw a decline. The same development could be seen for building permits issued for renovation: the number increased in Flanders and Wallonia, but not for the capital region.
How much does a house cost in Belgium?
In 2018, a house in Belgium would cost approximately 251,584 euros. There are, however, large differences between the three regions that exist in the country. A house in Flanders (the Dutch-speaking region) cost around 277,000 euros in 2018, whereas a residential dwelling in the French-speaking part of the country (Wallonia) was priced at 189,000 euros. The Brussels-Capital Region (the city of Brussels and its surrounding villages) was the most expensive: 452,700 euros on average.
Building permits are increasing
Like in other European countries, housing prices and rents have increased due to a shortage of residential real estate. Demand increased, whilst supply could not keep up. The number of issued building permits increased, however, in Belgium. In 2018, approximately 22,000 building permits were issued for newly constructed houses in Flanders, an increase of roughly 6,000 permits compared to the previous year. This number increased by roughly 190 permits in Wallonia, whereas the Brussels-Capital Region saw a decline. The same development could be seen for building permits issued for renovation: the number increased in Flanders and Wallonia, but not for the capital region.
