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Immo: high real estate activity and stable prices in the first quarter - Immo

Immo: high real estate activity and stable prices in the first quarter – Immo

Belgian real estate activity remained at a high level in the first quarter of 2022, according to the quarterly real estate barometer of the Federation of Notaries (Fednot), published on Wednesday. Home prices seem to be stabilizing or even falling.

In the first quarter of 2022, the number of real estate transactions increased by 2.2% compared to the same period in 2021 due to a busy month of January (+8.9%) and despite a relative stability in February (- 0.4%) and a slight drop in March (-1.5%). “It is still too early to know if this is a seasonal downturn or a real slowdown in activity”, tempers the spokesperson for notaire.be, Renaud Grégoire.

“The increase in the price of raw materials, the uncertainties surrounding the various markets and the increase in rates are undoubtedly elements which contribute to a certain caution.”

Geographically speaking, real estate activity increased in Flanders (+2.5%) and Wallonia (+2%). On the other hand, Brussels remained stable.

The average price of a house in Belgium was 315,984 euros in the first quarter.that is +7.1% compared to the 2021 annual average. “Taking into account inflation of 6.5%, the real price increase is only +0.6%”, nuances the Fednot.

Excluding inflation, only Brussels showed an average down 2% to 532,885 euros.

In Flanders, the average price reached 343,308 euros in the first quarter, an increase of 6.8%, while Wallonia remained the least expensive region with an average of 227,496 euros for a house in Wallonia (+2.1% on annual basis).

As to average price of apartments, it was 253,690 euros in the first quarteri.e. +1.1% compared to the annual average for 2021. Excluding inflation, it fell in the three regions: -6.2% in Brussels, -5.7% in Flanders and -1.3% in Wallonia.

In the first quarter of 2022, the number of real estate transactions increased by 2.2% compared to the same period in 2021 due to a busy month of January (+8.9%) and despite a relative stability in February (- 0.4%) and a slight drop in March (-1.5%). “It is still too early to know if this is a seasonal downturn or a real slowdown in activity”, tempers the spokesperson for notaire.be, Renaud Grégoire. “The increase in the price of raw materials, the uncertainties surrounding the various markets and the increase in rates are undoubtedly elements which contribute to a certain caution.” Geographically speaking, real estate activity increased in Flanders (+2.5%) and Wallonia (+2%). On the other hand, Brussels remained stable. The average price of a house in Belgium stood, in the first quarter, at 315,984 euros, or +7.1% compared to the annual average for 2021. “Taking into account a inflation of 6.5%, the real increase in the price is only +0.6%”, nuance the Fednot. Excluding inflation, only Brussels showed an average down 2% to 532,885 euros. In Flanders, the average price reached 343,308 euros in the first quarter, an increase of 6.8%, while Wallonia remained the least expensive region with an average of 227,496 euros for a house in Wallonia (+2.1% on annual basis). As for the average price of apartments, it was 253,690 euros in the first quarter, or +1.1% compared to the annual average for 2021. Excluding inflation, it fell in the three regions: -6.2% in Brussels, – 5.7% in Flanders and -1.3% in Wallonia.

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