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84 percent of Belgians think it is currently too expensive to buy a house. The price tag of construction and renovation is also very heavy for many Belgians, according to an iVox poll conducted at the start of Batibouw. In the meantime, the sector is also seeing the number of contracts fall due to high material prices, reports the Construction Confederation.
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The poll reveals a number of tendencies among the (re)constructive Belgian. For example, 84 percent think it is too expensive to buy now, and half of Belgians (53%) do not think it is a good time to build or renovate.
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However, a lot of Belgians are working on it, reports the poll. Almost 4 in 10 Belgians (37%) are currently building or renovating, have built or renovated in the past 2 years or are planning to do so in the coming year. A large majority of Belgians say that when they think about renovation or construction projects, the first thing they think about is the energy efficiency of the home. 63% prefer a more expensive home that is sustainable and energy efficient over a cheaper home that is less energy efficient. But reality shows a more nuanced picture. For Belgians who build or renovate effectively, price usually comes first (38%).
At the same time, the Construction Confederation reports that these high prices also weigh on the number of contracts in the sector. Research by the confederation, in which 325 contractors and installers participated, shows that 61 percent report a decrease in the number of new contacts. In 13 percent of the cases, a customer cancels his construction or renovation project. The reason: the increased material prices and the resulting construction prices.
–© Hollandse Hoogte / Tom van Limpt
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“However, construction companies cannot do otherwise than invoice the increased prices to the customer,” says Niko Demeester, managing director of the Construction Confederation. The quotes they receive from the suppliers of building materials are only valid for a few days in 43 percent of the cases and even only a few hours in 7 percent of the cases.
“It shows that the pressure on prices is very high and that contractors and installers have no other option to pass on those price increases to the customer,” emphasizes Demeester. The research shows that with new contracts the increased prices pass on in 65 percent of the cases, of which 40 percent fully and 25 percent partially.
Demeester adds that these increased prices are bad news for consumers. “However, they should not stop her or him from starting or continuing a new construction or renovation project. After all, the best form of retirement savings continues to be investing in your own home,” it reads.
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