Belgium experienced a 2% reduction in activity in 2022 due to the challenges the market is facing. However, despite fewer transactions, prices of new dwellings maintained the same tendency with a yearly increase of 8% in 2022. Belgium is one of the few EU countries in which the number of project completions went down, decreasing 5.7%.
Rising interest rates and higher energy and construction costs are heavily impacting the affordability of home ownership and are pushing more households to the rental market. Brussels remains an interesting in terms of rental levels in comparison with other EU capitals.
Sustainability is…
