Authored by the expert who managed and guided the team behind the Belgium Property Pack
Everything you need to know before buying real estate is included in our Belgium Property Pack
What will happen in Belgium’s real estate market? Will prices go up or down? Is Brussels still a hotspot for foreign investors? How is Belgium’s government impacting real estate policies and taxes in 2025?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with notaries, real estate agents, and clients who buy properties in Belgium, we’ve gained firsthand insights.
That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market predictions and forecasts.
Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.
1) Real estate price growth will slow down due to economic uncertainty in Europe
The real estate market in Belgium is facing a temporary slowdown in price growth due to economic uncertainties in the Eurozone.
One major factor is the increased interest rates by the European Central Bank, which have made potential buyers think twice before purchasing a home. This has led to a noticeable drop in activity, with the total number of residential property transactions in Belgium falling by 17.5% in the first three quarters of 2023 compared to the same period last year.
Inflation is another concern, as it affects how much people can spend. With rising inflation rates, consumer purchasing power is taking a hit, which could mean fewer people are looking to buy property. The European Commission's confidence indicator for Belgians also shows that the construction sector is not as active as it used to be, and this trend might stick around for a while.
Looking back, we see that economic uncertainty often cools down the real estate market. Take the COVID-19 pandemic, for example, when many countries saw a significant drop in real estate transactions due to similar uncertainties. In Belgium, the number of building permits issued was down by 11.8% in the first half of 2023 compared to the same time the previous year.
For those considering buying property in Belgium, it's worth noting that these economic factors are creating a unique market environment. While it might seem challenging, this slowdown could also present opportunities for savvy buyers who are ready to navigate the current landscape.
Sources: Global Property Guide, Trading Economics, KBC Economics Publications
2) Foreign buyers will focus more on sustainable and energy-efficient properties in Belgium
Foreign buyers are increasingly interested in sustainable and energy-efficient properties in Belgium.
This trend is part of a broader European movement where people want homes that help reduce energy bills and combat climate change. The Belgian government is pushing this forward with new rules that require homes to meet certain energy standards by 2030 and 2033. These rules are part of the Energy Performance of Buildings Directive, which aims to make energy-efficient homes more appealing to investors.
Belgium is not alone in this; across Europe, there's a strong push for homes that meet minimum energy standards. A 2023 survey showed that most Europeans support these laws, driven by the desire to cut down on energy costs and address climate issues.
Financial institutions are also jumping on board by offering green mortgages and other financial products. This makes it easier for investors to finance sustainable real estate, and the National Bank of Belgium has noticed a growing price gap between energy-efficient and less efficient properties.
Investors are seeing the financial benefits of going green, as energy-efficient homes are becoming more valuable. The National Bank of Belgium highlights this trend, showing that investing in sustainable real estate is financially rewarding.
As these changes take hold, foreign interest in Belgian real estate is expected to shift even more towards properties that are both sustainable and energy-efficient.
Sources: EU-ASE, Interreg Europe, National Bank of Belgium
We have made this infographic to give you a quick and clear snapshot of the property market in Belgium. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Brussels rents will keep rising as more international workers and expats move in
Brussels is seeing a surge in rental demand as more people flock to the city.
Known as the heart of the European Union, Brussels attracts a steady stream of international professionals and expats. This influx keeps the housing market buzzing, especially in central areas with good transport links. With more global companies setting up shop here, the demand for rental properties is only getting stronger.
Back in 2023, the average rent in the Brussels-Capital Region was 1,205 euros, with some neighborhoods like Woluwe-Saint-Pierre hitting 1,413 euros per month. Fast forward to 2025, and this trend hasn't slowed down. The city's appeal to international workers is a big reason why.
In 2023, nearly 56,166 people moved to Brussels from abroad, almost reaching pre-pandemic numbers. This wave of newcomers is a major factor in the city's population growth, which in turn fuels the demand for housing. The limited number of new housing projects only adds to the pressure on rental prices.
With a shortage of new developments and a constant demand, rental prices are on a steady climb. This is great news for property investors but a challenge for those looking to rent. The city's international allure and job opportunities make it a hot spot for those seeking a vibrant urban life.
Sources: Buyerside, Belga News Agency, Statista
4) Property values in Brussels near green spaces will rise as city residents prioritize outdoor living
In Brussels, living near green spaces is becoming increasingly desirable.
Neighborhoods like Etterbeek and Ixelles are seeing property prices rise significantly because they are close to popular parks such as Bois de la Cambre and Parc du Cinquantenaire. This trend is driven by a growing desire for outdoor living, especially since 2023. People are looking for homes where they can enjoy nature, which boosts their mental and physical well-being.
Research from the University of Brussels highlights that homes near parks are more expensive. This is because they offer a better quality of life, attracting buyers who value access to nature. The demand for such properties is on the rise as more people prioritize outdoor activities.
In 2024, an ImmoWeb survey found that 75% of homebuyers consider proximity to parks crucial when choosing a home. This preference is evident in the increased foot traffic in Brussels' parks, which saw a 20% rise between 2023 and 2024. People are flocking to these green spaces, underscoring their growing popularity.
As urban dwellers increasingly prioritize outdoor living, neighborhoods with easy access to green spaces are expected to see a notable increase in property values. This shift is reshaping the real estate landscape in Brussels, making these areas highly sought after.
For those considering buying property in Brussels, investing in areas near parks could be a smart move. The trend towards valuing green spaces is not just a passing phase but a significant factor influencing property prices.
Sources: ImmoWeb, ULB Study, ImmoWeb Survey, City of Brussels Statistics
5) Property prices in the Flemish region will rise as investment in infrastructure and connectivity increases
The Flemish region is buzzing with new infrastructure projects that are reshaping its landscape.
Thanks to the 4.3 billion euro Flemish recovery plan, the area is seeing a surge in connectivity and economic growth. This plan is not just about roads and bridges; it's about making the region more appealing to both locals and investors.
Transportation is getting a major facelift, with significant investments in the transport sector. This isn't just about getting from point A to B faster; it's about making the region a hotspot for potential homebuyers and investors.
In 2023, property prices in the Flemish region started climbing. Detached houses saw a 2.5% bump in median price, while attached and semi-detached homes went up by 1.7%. Apartments weren't left out, with a 3.8% year-over-year increase, all thanks to the region's improved connectivity.
Real estate agencies are buzzing with activity, reporting a growing demand for properties in the area. This demand is expected to keep rising as more infrastructure projects wrap up, pushing property prices even higher.
Investors are taking note, drawn by the region's promising economic prospects and ever-improving infrastructure. The Flemish region is becoming a prime spot for those looking to invest in property.
Sources: Statbel, European Commission, Global Property Guide
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6) Demand for senior-friendly housing in Belgium will grow as the population ages
Belgium's population is aging rapidly, with one in four Belgians expected to be over 65 by 2050.
As more people cross the 80-year mark, the demand for housing with care facilities like assisted living is on the rise. The real estate market is trying to catch up, but there's a noticeable gap between what's available and what's needed. In early 2024, the absorption rate in senior housing increased by 40%, highlighting that demand is outpacing supply.
Older Belgians are opting for smaller, more manageable homes, which is driving demand for properties with accessibility features. These homes are easier to maintain and come with features that simplify life as they age. Investors and developers are taking note, focusing more on these types of properties.
In cities like Brussels, there are pilot projects and policies aimed at creating senior-friendly housing. These initiatives are part of a broader strategy to make cities more accommodating for older residents, which is crucial as the population continues to age.
Efforts to support aging in place are gaining traction, with cities implementing strategies to make urban areas more livable for seniors. This is not just about building new homes but also about adapting existing structures to meet the needs of an aging population.
As the demand for senior-friendly housing grows, the real estate market is seeing a shift. Developers are increasingly interested in properties that offer easy access and senior-friendly amenities, reflecting the changing needs of the population.
Sources: KBC Economics, WHO Age-friendly World, NIC MAP Vision
7) Demand for diverse housing in Belgium will grow as immigration boosts the population
Belgium's population is growing, thanks to an influx of immigrants.
In 2023, Belgium welcomed 194,887 new immigrants, leading to a positive migration balance of 66,349. This wave of newcomers has boosted the population by 66,093 people, or 0.57%. The increase in population is not just about numbers; it's about the vibrant mix of cultures and communities that are reshaping the country's social fabric.
More people are also becoming Belgian citizens, with over 54,800 individuals gaining citizenship in 2023, a 13% jump from the previous year. The largest groups hail from Morocco, Syria, Romania, Afghanistan, and Italy, showcasing a blend of EU and non-EU influences. This diversity is enriching Belgium's cultural landscape, bringing new traditions and perspectives.
With this population growth, there's a rising need for varied housing options across the country. The Brussels Government is tackling this by reforming urban planning to address housing shortages. They're focusing on social housing and sustainable energy solutions, ensuring that the housing market can meet the needs of its diverse residents.
Construction is booming, with a focus on multi-family and affordable housing units to accommodate the growing population. These developments are not just about providing shelter but also about creating communities where people from different backgrounds can thrive together.
Belgium's housing market is evolving, driven by immigration and urban planning reforms. This transformation is paving the way for a more inclusive and sustainable future, where everyone can find a place to call home.
Sources: Schengen News, EMN Belgium, PwC Legal, The Brussels Times
8) Demand for eco-friendly homes in Belgium will grow as buyers become more environmentally aware
In Belgium, eco-friendly homes are gaining popularity as people become more environmentally conscious.
In recent years, especially in 2023 and 2024, there's been a noticeable rise in homes with high Energy Performance Certificate (EPC) ratings, particularly in Flanders. This trend indicates that homeowners are increasingly interested in energy-efficient living. The construction industry is also catching on, with more builders using sustainable materials like circular concrete and timber. For example, a major housing project in Mechelen is being constructed with these eco-friendly materials, showcasing a shift towards sustainability in the housing market.
Government incentives are a big part of this change. The Flemish government has put substantial funds into supporting climate-neutral building projects. These financial incentives make it more appealing for homeowners to invest in eco-friendly renovations and constructions. The media is also playing a role, with increased coverage on climate change and sustainable living, which is influencing Belgian consumers' preferences.
As a result, there's a growing demand for homes with eco-friendly features. This shift is not just about individual choices but reflects a broader societal trend. The construction industry is responding by incorporating more sustainable practices, and the government is backing these efforts with financial support. This combination of factors is making eco-friendly homes more accessible and attractive to potential buyers.
For those considering buying property in Belgium, it's worth noting that the market is moving towards sustainability. This trend is likely to continue as more people become aware of the benefits of eco-friendly living. The demand for homes with high EPC ratings and sustainable materials is expected to grow, making it a smart investment for the future.
Sources: Taloen Resources, Statista, Innovation Origins, ING Think
Yurt-inspired Timber Home: The Perfect Blend [33] showcases the growing trend of bio-ecological construction in Belgium, highlighting how homeowners are increasingly choosing natural and sustainable building materials for health and environmental reasons.
9) Short-term rental returns will decrease due to stricter rules in popular tourist spots
In 2023 and 2024, Brussels has tightened regulations on short-term rentals to tackle housing issues.
These new rules are reshaping the rental landscape, limiting rentals to 120 days a year, down from the previous average of 150 days. This change means property owners can't rent out as often, which directly affects their income potential. Imagine having to cut back on your rental days; it’s a big shift for many landlords.
To rent out a property, landlords now need a fire safety certificate and a clean criminal record. These requirements are part of the city's effort to ensure safety and accountability. Non-compliance can lead to fines up to €10,000, a hefty penalty that makes many think twice about short-term rentals.
These regulations are not just about paperwork; they’re reshaping the market. With fewer properties available for short-term rental, the supply is shrinking, which could drive up prices for compliant rentals. This is a significant change for anyone considering investing in rental properties in Brussels.
For potential buyers, understanding these dynamics is crucial. The market is shifting, and short-term rental yields are under pressure. If you're looking to buy, consider how these regulations might impact your investment strategy.
These changes are part of a broader trend in popular tourist areas, where cities are balancing tourism with local housing needs. Brussels is just one example of how regulations are evolving to address these challenges.
Sources: Brussels Times, International and Comparative Law Review, The Bulletin
10) Older properties will need energy-efficient upgrades due to new environmental rules, affecting their market value
Belgium is making a big push to improve energy efficiency in its buildings.
In Brussels, by 2025, every home will need an Energy Performance of Buildings (EPB) certificate, which shows how energy-efficient a property is. This is part of a larger plan to cut down on energy use and reduce greenhouse gas emissions. Older properties often fall short of these new standards, meaning they’ll need upgrades to catch up.
For example, the Brussels-Capital Region wants residential buildings to use less than 275 kWh/m² per year by 2033. This means many older homes will need significant improvements. Plus, by 2030, the government plans to phase out fossil fuels in new buildings and major renovations, pushing even more for energy-efficient changes.
Experts say these upgrades can lead to big savings on energy bills, which could boost property values. Improving insulation and heating systems might save up to 30-40% on energy costs by 2030. This makes energy-efficient homes more appealing to buyers, likely increasing their market value.
There are also government incentives for making these energy-efficient upgrades, which could encourage more property owners to invest in them. This could further change the real estate market, making energy-efficient homes a hot commodity.
Sources: Loyens & Loeff, McKinsey, Baker McKenzie
11) Stricter zoning laws will reduce new developments, impacting property supply and prices
Stricter zoning laws are making it tougher to develop new properties in certain areas.
In the Brussels Region, new rules are shaking things up. These regulations could limit the sale of leased residential properties, meaning fewer homes might be up for grabs. With fewer options, prices could rise as demand stays strong.
Over in Flanders, there's a push for energy efficiency. New renovation obligations require buildings to meet specific standards, creating a noticeable price gap between energy-efficient homes and others. This shift is influencing the overall property market.
Meanwhile, the Brussels-Capital Region is seeing a drop in building permits. The number of permits issued has decreased significantly, highlighting how these laws are slowing down new developments. Even if some areas see a slight uptick, the general trend is clear.
These zoning laws are not just about rules; they're reshaping the property landscape. Developers face more hurdles, which can delay or halt new projects. This means fewer new homes and potentially higher prices for buyers.
For those eyeing property in these regions, it's crucial to understand how these changes might affect availability and cost. The impact of stricter zoning laws is already being felt, and it's something to keep an eye on.
Sources: Linklaters, Loyens & Loeff, ING, Statbel
Buying real estate in Belgium can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
12) Belgium will restructure property taxes to promote sustainable development and energy efficiency
Belgium is reshaping its property taxes to boost sustainable development and energy efficiency.
Driven by the European Union's climate goals, Belgium is aligning with the EU's target to cut energy consumption by 11.7% by 2030. This push is part of a broader effort to encourage countries to adopt greener practices. The EU's Energy Efficiency Directive, introduced in 2023, is a key player here, emphasizing the "energy efficiency first" principle. This means prioritizing energy savings, especially for vulnerable groups and social housing, which has prompted Belgium to rethink its property tax structure.
Belgium's building sector holds a massive potential for energy savings, with a theoretical savings of 61 million barrels of oil equivalent by 2030. This potential is tied to investment-related measures, highlighting the need for financial incentives for green building projects. The OECD's 2024 report on Belgium stresses the importance of flexible support mechanisms to promote renewable energy and efficient renovations, especially for low-income households.
In the Brussels Region, legislative proposals are underway to adjust the property tax allowance, making it easier for buyers to invest in energy-efficient homes. These changes aim to encourage sustainable development by adjusting tax conditions. The collaboration between the government and private sector is crucial, ensuring a comprehensive approach to achieving sustainability goals.
Belgium's efforts are not just about meeting EU targets but also about recognizing the economic benefits of energy efficiency. By restructuring property taxes, the country is creating a more attractive market for energy-efficient homes, which can lead to long-term savings for homeowners and a reduction in carbon emissions.
As Belgium continues to innovate in its approach to property taxes, the focus remains on creating a sustainable future. This involves not only legislative changes but also fostering a culture of energy efficiency among homeowners and developers. The goal is to make energy-efficient living the norm, benefiting both the environment and the economy.
Sources: Energy Efficiency Directive, OECD Economic Surveys: Belgium 2024, Lexunion
13) Ghent’s property market will thrive as it becomes a tech startup and innovation hub
Ghent is quickly becoming a hotspot for tech startups and innovation, making its real estate market a promising investment.
In 2023, the city saw a surge with over 920 startups and scale-ups, including 310 backed by venture capital. This momentum carried into 2024, with more than a third of these startups securing venture capital, showing a strong influx of new businesses.
The combined enterprise value of these startups has exceeded €34 billion, with major investments in health and foodtech. By mid-2024, breakout-stage investments had already reached 61% of the previous year's total, underscoring Ghent's growing tech scene.
Ghent University is a key player, having created over 150 spin-offs, with more than 100 based in the city. These spin-offs are vital to the startup ecosystem, contributing 5.9% to the total enterprise value of Ghent's startups.
With its vibrant tech ecosystem, Ghent is attracting both local and international investors, making it a prime location for real estate opportunities. The city's focus on innovation and technology is not just a trend but a solid foundation for future growth.
As Ghent continues to establish itself as a tech hub, the demand for property is expected to rise, offering potential buyers a chance to invest in a city on the rise.
Sources: Stad Gent, Stad Gent, Stad Gent
14) Demand for homes with office spaces will grow as remote work becomes permanent
In Belgium, remote work has become a major trend, especially in bustling Brussels.
By 2023, one-third of Belgian workers were working from home at least once a week, and this number was even higher in the capital. Fast forward to 2024, and nearly half of the workforce was engaged in remote work, reflecting a significant shift in work habits.
With this change, the demand for homes with dedicated office spaces has surged. As companies embraced flexible work models, people started looking for properties that could support their new work-from-home routines. Real estate reports from 2023 and 2024 showed a growing interest in homes equipped with well-designed office spaces and high-speed internet.
Surveys in 2023 revealed that many Belgian workers preferred having a home office, enjoying the benefits of teleworking two or three days a week. This preference was echoed in media stories highlighting the perks of remote work, such as boosted productivity and improved work-life balance.
In Brussels, where the trend is particularly strong, properties with home offices are becoming highly sought after. The city's vibrant business environment and the increasing number of remote workers make these homes a hot commodity.
As remote work becomes a permanent fixture, homes with office spaces are likely to remain in high demand, reshaping the real estate landscape in Belgium.
Sources: Brussels Times, CBRE, Office Furniture Supplies
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Belgium. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
15) Demand for eco-friendly homes in Belgium will grow as sustainable living becomes a priority
Belgians are increasingly interested in sustainable living, which is shaping the demand for eco-friendly housing.
In the Flemish and Walloon regions, there are ambitious renovation targets to cut greenhouse gas emissions by 2050. Meanwhile, the Brussels-Capital Region is aiming for carbon neutrality in public buildings by 2040. This shows a strong commitment to sustainability across the country.
The construction sector in Belgium is changing fast, with more projects using sustainable building materials. For example, the hybrid building in Brussels and the circular concrete housing in Mechelen are leading the way. These projects highlight a shift towards eco-friendly construction, driven by both consumer demand and industry innovation.
Belgians are becoming more aware of the benefits of energy-efficient homes. Even with concerns about affordability, many are prioritizing sustainable living. This shift is influenced by stricter environmental regulations and the potential for long-term cost savings.
Government incentives and policies are also playing a role in promoting green building practices. These measures are encouraging more people to consider eco-friendly options when buying or renovating homes.
As a result, the demand for eco-friendly housing is expected to grow, with Belgians increasingly prioritizing sustainable living in their property choices.
Sources: European Commission, Innovation Origins, ING Think
Effortlessly Efficient: Benefits of Living in Passive House for a family of 5 [52] demonstrates how Belgian families are actively choosing sustainable housing options, featuring a detailed case study of a passive house near Antwerp that uses 90% less energy than traditional buildings.
16) Demand for large multi-family homes will drop as people choose smaller, easier-to-manage spaces
In Belgium, more people are choosing smaller, more manageable living spaces over large, multi-family homes.
In 2023, 36% of private households were single-person households, and in the Brussels-Capital Region, nearly half of all households were single-person households. This shift highlights a growing preference for smaller living arrangements, driven by the rise in single-person households.
The minimalist lifestyle trend is also influencing housing choices. In 2024, the word "cozy" became a buzzword in real estate listings, signaling a move away from large, open floor plans to more contained and purposeful spaces. This change aligns with the desire for low-maintenance homes, especially as housing affordability becomes a concern.
Over half of Belgians surveyed in 2024 felt that housing was already unaffordable, and they expected energy-efficient homes to become even less affordable due to stricter environmental regulations. This financial pressure is nudging people towards smaller, more cost-effective homes.
Demographic trends are also at play. Belgium's aging population is increasingly opting for smaller homes to ease maintenance burdens. This trend is likely to persist, as the number of young adults entering the housing market is expected to decrease significantly by 2030.
Environmental concerns are another factor. There's a growing interest in sustainable living spaces, which supports the preference for smaller homes. People are looking for ways to reduce their carbon footprint, and smaller homes often mean lower energy consumption.
Sources: Statbel, ING Think, Zillow
17) Antwerp’s historic districts will attract buyers interested in cultural heritage
Antwerp's historic districts are on the brink of a remarkable renaissance, attracting buyers who cherish cultural heritage and unique architecture.
Thanks to the government's active investment in preserving and restoring historic buildings, these areas have become more appealing. This commitment to maintaining the city's cultural heritage has not only drawn in residents but also boosted tourism significantly. In the summer of 2024, Antwerp welcomed 2.7 million day tourists, a 3.8% increase from the previous year, showcasing the growing allure of these districts.
Successful restoration projects have caught the media's eye, shining a spotlight on Antwerp's dedication to its cultural roots. This attention, coupled with a rise in cultural events and festivals, has further enhanced the city's charm. Social media has played its part too, with trends highlighting the beauty and uniqueness of Antwerp's historic districts, sparking renewed interest among potential buyers.
For those considering a property purchase, Antwerp offers a unique blend of history and modernity. The city's efforts to preserve its past while embracing the future make it an attractive option. Buyers are drawn to the distinctive architectural features that set these districts apart, offering a living experience steeped in history.
Insider knowledge suggests that the government's ongoing investment will continue to elevate property values in these areas. This makes it a promising time for buyers looking to invest in a city that values its heritage. The combination of cultural richness and architectural beauty is a rare find, making Antwerp's historic districts a prime choice for those seeking a unique living environment.
Sources: Audley Travel, Trip by Trip, Trip by Trip
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.