At Sotheby’s International Realty Belgium, we closely monitor the developments in the real estate market. While rising interest rates and inflation are slowing down the Belgian real estate market, the luxury segment continues to show its resilience. Although some transactions are taking longer, the demand for exceptional properties remains steady.
A transforming real estate market
Since 2023, the Belgian real estate market has cooled due to rising interest rates, which have increased from 1.5% to 3.5%. This rise has led to a decrease in transactions and mortgage loans, but property prices have stabilized, with a slight increase of 0.9% for houses.
While the overall market faces challenges, the luxury segment stands out. At Belgium Sotheby’s International Realty, we have observed that demand for exceptional properties remains steady, although the buying process may take a bit longer. Buyers are taking more time to analyze each property and negotiate, particularly due to the rising costs of renovations. The Energy Performance Certificate (EPC) is also becoming a key factor, especially in Flanders, where regulations require renovations for properties with low energy efficiency.
Highly desirable locations
Prestigious neighborhoods such as Ixelles, Tervuren, and Woluwe-Saint-Pierre continue to attract buyers despite economic challenges. Location remains a key factor for luxury buyers, often more important than any renovation work needed. Properties with unique character, architectural charm, and prime locations are still highly sought after, even in this complex economic environment.
At Sotheby’s International Realty Belgium, we are committed to presenting properties that meet these high standards, with a focus on quality and prestige. Our team is dedicated to providing our clients with exceptional service for the sale and acquisition of luxury real estate. Trust our expertise to help you achieve your goals in the luxury real estate market.
