Authored by the expert who managed and guided the team behind the Belgium Property Pack
Yes, the analysis of Brussels' property market is included in our pack
What do the latest numbers reveal about Brussels’ real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Brussels, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
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1) A two-bedroom apartment in Brussels currently rents for €1,200 per month
The average monthly rent for a two-bedroom apartment in Brussels is €1,200.
In recent years, rent prices have surged across Brussels, making it tough to find affordable options. For instance, in 2023 and 2024, areas like Auderghem, Bruxelles-Ville, and Ixelles saw a noticeable jump, with Ixelles reaching an average rent of €1,374 for a two-bedroom apartment.
This increase is part of a broader trend fueled by high demand and limited housing supply. Over the last five years, rent prices for two-bedroom apartments have risen by at least 15% in all communes, reflecting the city's growing popularity and housing challenges.
Brussels' appeal as a vibrant European hub has attracted more residents, further driving up demand. The limited availability of new housing developments has exacerbated the situation, pushing rents higher.
For potential buyers, understanding these dynamics is crucial. The rental market's current state highlights the importance of strategic planning and timing when considering property investments in Brussels.
Source: Trends article on rising rents in Brussels
2) Foreign investors in Brussels' residential market grew by 12% in 2024
The number of foreign investors in Brussels' residential market increased by 12% in 2024.
Brussels has become a hotspot for property investment, especially in the residential sector. Back in 2022, the city saw 16 transactions in the apartment segment, which is more than three times the average of the previous five years. This surge shows a growing confidence among investors, with each transaction averaging 16 million euros.
One of the key factors driving this trend is the market dynamics in Brussels, where high demand meets limited supply. This imbalance has pushed average rents up by 2.8% in the first half of 2024. Despite challenges like strict energy efficiency norms and rising construction costs, the potential for higher returns due to freely determined rents in Belgium remains a strong lure for investors.
Foreign investors are particularly drawn to the Belgian residential market. The country offers an attractive proposition with no restrictions on foreign property ownership, making it a welcoming destination for international buyers.
Sources: Trends Le Vif, Pons Realty, Eldorado Immobilier
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.
3) Property maintenance in Brussels currently averages €2,500 per year
In Brussels, property maintenance costs average around €2,500 per year.
Several factors influence these costs, with renovations being a major one. For example, renovation costs can range from €500 to €1,500 per square meter for standard work, and even more for extensive projects. This variability significantly impacts the overall expenses for property owners.
Specific tasks like updating a kitchen or installing a new heating system can add up quickly. A kitchen renovation might set you back anywhere from €5,000 to €30,000, while roof work could cost between €250 and €450 per square meter. These specific expenses contribute to the fluctuation in annual maintenance costs.
Utility bills are another piece of the puzzle. In 2023, the average monthly utility bill for an apartment in Brussels was about €194.48. When you add this up over the year, it becomes a predictable part of the maintenance budget.
Unexpected repairs or updates can also pop up, adding to the financial planning required for property upkeep. These elements, combined with regular expenses, shape the average annual maintenance cost.
Sources: Kraken Immo, Teast
4) Brussels' residential property vacancy rate is currently about 6%
The vacancy rate for residential properties in Brussels is currently hovering around 6%.
This rate is seen as reasonable and necessary for a healthy housing market. It ensures that residents can move smoothly and that the housing stock is well-maintained. Like any city, Brussels doesn't perfectly align supply and demand, and this vacancy rate reflects that dynamic.
Some level of vacancy is inevitable and necessary for market balance. If the rate dropped below 6%, it would indicate a very tight housing market. However, the current rate doesn't suggest long-term or intentional vacancies. Instead, it shows that vacancies are usually short-lived and unavoidable, often due to tenant transitions, property sales, or renovations.
In Brussels, the housing market's vacancy rate is a sign of its natural ebb and flow. This rate allows for flexibility and adaptation, ensuring that properties can be updated or sold without causing market strain.
Understanding this rate helps potential buyers see that the market is functioning as it should, with enough room for movement without being overly tight or too loose.
Sources: CBCS, Brussels Housing
5) A three-bedroom house in Brussels currently costs an average of €600,000
In Brussels, the average cost of a three-bedroom house is estimated to be around €600,000.
Back in 2023, the average house price in Brussels was reported at €562,489, which includes all types of houses, not just three-bedroom ones. This figure provides a useful baseline for understanding the city's property market dynamics.
In certain districts like Ixelles, property values soar, with the average house price reaching €772,089. This shows how specific areas can significantly influence the overall market, pushing up the average cost of homes in Brussels.
For those considering apartments, the average price for a three-bedroom unit was €431,636 in 2023. Although this is lower than the average house price, it underscores the trend of high property prices across the city.
Given these numbers, it's reasonable to estimate that a three-bedroom house could average around €600,000, especially when factoring in district variations and market trends.
These figures highlight the importance of understanding local market conditions when considering a property purchase in Brussels. The city's diverse districts and fluctuating prices make it crucial to stay informed.
Source: KBC Brussels Bank & Insurance
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6) A single-family home in Brussels currently costs an average of €450,000
The average cost of a single-family home in Brussels is €450,000.
In Brussels, the price per square meter for a house is €3,232, as noted by Immoweb. This figure helps us understand the baseline property costs in the city. Over the years, the Brussels-Capital region has seen a steady rise in house prices. For instance, back in 2019, there was a 5.46% increase in prices, bringing the average to €425,000, according to Expatica.
Neighborhoods like Uccle are among the priciest in Brussels, although specific data for single-family homes isn't detailed. These local variations indicate that certain areas can significantly influence the overall average cost of homes.
Understanding these dynamics is crucial for potential buyers. The regional and local variations in pricing highlight the importance of location when considering a property purchase. In some areas, the cost can be much higher, reflecting the desirability and amenities of the neighborhood.
For those looking to invest, it's essential to consider these factors. The average cost of €450,000 is not just a number; it represents a complex interplay of market trends, regional growth, and local desirability. This makes Brussels a unique and potentially rewarding market for property buyers.
Sources: Immoweb, Expatica, Properstar
7) The average size of a new apartment in Brussels is now 85 square meters
In Brussels, the average size of a newly built apartment is now 85 square meters.
This shift is part of a larger trend across Belgium, where apartment sizes have been shrinking over the years. Rising land prices are a major factor, making it costly to build larger spaces. Developers are adapting by creating smaller units, which helps keep costs down and prices appealing for potential buyers.
Regulatory constraints also influence apartment sizes. These include zoning laws and building codes that restrict the size and design of new buildings. Such regulations can make it challenging to construct larger apartments, pushing developers to opt for more compact designs.
In urban areas like Brussels, the demand for housing is high, and space is at a premium. This demand, coupled with the high cost of land, encourages the development of smaller apartments that are more affordable for a wider range of buyers.
Moreover, the trend towards smaller living spaces is not just about cost. Many people are now seeking more efficient and sustainable living options, which smaller apartments can offer. This shift aligns with a growing preference for minimalistic lifestyles and reduced environmental footprints.
As a result, the real estate market in Brussels and other Belgian cities is seeing a rise in the construction of these compact, yet functional, living spaces. This trend is expected to continue as urbanization and economic factors shape the housing landscape.
Sources: Immovlan, Notaire.be
8) Residential property prices in Brussels are expected to increase by at least 3% in 2025
The average price of a residential property in Brussels is expected to rise by at least 3% in 2025.
In 2024, the real estate market in Brussels showed remarkable stability after a slight dip in transactions the previous year. This steadiness has reassured both buyers and sellers, keeping prices relatively high even with fewer sales. Meanwhile, interest rates, which had peaked in 2023, began to ease in 2024, settling around 3% by year-end. This drop in rates has made borrowing more accessible, fueling the real estate market and encouraging investment.
Experts are forecasting a moderate increase in property prices for 2025, with an expected rise of around 3%. This prediction is grounded in the stable market conditions and the ongoing demand for properties in Brussels, which is outpacing the available supply. The demand is anticipated to stay strong due to the limited number of new properties entering the market.
With demand consistently high and supply limited, the market dynamics are set to push property prices upward. Stable interest rates and potentially rising rents are also contributing factors. The combination of these elements is expected to drive up property prices in the coming year.
For those considering buying property in Brussels, these trends suggest a favorable environment for investment. The market's stability and the easing of interest rates are making it easier for potential buyers to secure financing. This environment is likely to encourage more people to invest in the real estate market.
As the market continues to evolve, keeping an eye on these factors will be crucial for anyone looking to make a purchase. The interplay of demand, supply, and interest rates will be key in shaping the property landscape in Brussels in 2025.
Sources: Property One, We Invest, RTL
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.