“Housing Market in Belgium Records Significant Decline in Q1 2023”

In the first quarter of 2023, the Notary Federation recorded no fewer than 7.1 percent fewer transactions on the Belgian housing market than in the same period last year. In Flanders, the fall of -9.2 percent is even sharper. Especially in January (-15.3%) and February (-12.9%), the market cooled considerably. In March, the figures seem to normalize somewhat, although it is not yet clear whether this is a temporary flare-up.