It is currently very warm in Flanders, except in the real estate market. It’s still cooling down. Last month, for example, 7 percent fewer homes and apartments were sold again, according to exclusive figures that HLN received. Does that have an impact on prices?
According to notary Bart Van Opstal, the spokesman for Notaris.be, in the first five months of this year, up to and including May, an average of 7 percent fewer real estate transactions took place in Flanders compared to the same period last year. Also in May, 7 percent fewer homes were sold. This trend follows the national figures. While in recent years a lot has been bought and sold en masse, there has been a downward trend – for a whole year now. This is partly because interest rates are still high.
“7 percent is quite a drop,” says Van Opstal. “We already saw the cooling of the real estate market in the first quarter and it is clearly continuing. So you can certainly not talk about a renewed demand for housing. In Brussels, the cooling is slightly less, where there are five percent fewer transactions.”
It is not yet certain what this will do to prices on the housing market. “In the first quarter you saw slight price drops for apartments, but house prices still rose slightly. Only in the coming weeks will it become clear whether the cooling will also cause the price of homes to fall,” says Van Opstal.
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2023-06-12 04:00:24
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