Belgian housing market to see imminent price correction
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Loading... - Maxime De Backer
- 09 Feb 2023
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Belgian house price House price growth stalled in the second half of last year
The largest network of real estate agents, the ERA, last week published its latest price barometer which revealed that property prices increased by only 0.5% in the second half of last year. The index corrects for changes in the quality and location of homes sold and measures the price evolution of similar homes over time. The cooling is expected to continue in the coming months. Rising mortgage rates, in combination with high inflation and the energy crisis, will further slow down the housing market in 2023, according to our analysis. growth came to a standstill in the second half of 2022. In 2023, the housing market will cool down further. We expect prices to fall by half a percentage point this year. A new ING survey also shows that energy is becoming increasingly important when purchasing a home. Half of Belgians would no longer buy a home with a poor energy score. Read More…
