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prix immobiliers

  • Mercredi 22/3/2023

    The Belgian housing market continued to perform well in recent years despite successive crises. Nevertheless, a weakening of buying and construction activity has been noticeable in recent quarters. This takes place against the backdrop of rising interest rates and is accompanied by lower annual house price growth dynamics. Together with strong nominal income growth among households (a consequence of high inflation, automatic indexation, and robust job creation), the less exuberant house price dynamics put downward pressure on the overvaluation of the Belgian housing market. This was offset by upward pressure due to the rise in interest rates. On balance, the overvaluation, approached from an econometric model, remained between roughly 10-15%. The household debt ratio continued to rise in recent years, although that trend seems to have reversed recently. The headwinds in the housing market will likely result in a further deceleration in the nominal price growth rate in 2023-2024. Given still relatively high general inflation, that implies a house price decline in real terms.

  • Vendredi 1/7/2022

    The price difference between energy-efficient and energy-inefficient houses has increased over the past decade. And it may even become bigger due to the high energy and construction prices and the future renovation obligations. Although the energy efficiency of the sold homes has improved over the past ten years, it will have to improve a lot more in order to meet the climate targets by 2050. However, there are several supply and demand side impediments and all actors involved – households, government, financial sector and construction sector – have an important role to play in overcoming them. Finally, it is important to take into account the improving energy efficiency when drawing up house price indices.


    Het prijsverschil tussen energiezuinige en energieverslindende huizen is het voorbije decennium toegenomen. De hoge energie- en bouwprijzen en de toekomstige renovatieverplichtingen kunnen er bovendien voor zorgen dat dat nog groter wordt. Hoewel de energie-efficiëntie van de verkochte woningen het voorbije decennium is verbeterd, zal deze nog aanzienlijk verder moeten toenemen om de klimaatdoelstellingen tegen 2050 te halen. Hierbij zijn er verschillende drempels aan zowel de aanbod- als de vraagzijde en hebben alle betrokken actoren – gezinnen, overheid, financiële sector en bouwsector – een belangrijke rol om deze te overwinnen. Tot slot is het belangrijk om de verbeterende energie‑efficiëntie in rekening te brengen bij het opstellen van woningprijsindices.

  • Mardi 2/6/2020
    Steven Trypsteen

    The crisis has a large impact on income growth and this will lead to downward pressure on house prices. But there are also factors that support the housing market. We expect that the mortgage interest rate will remain low, that the relative yield on real estate will remain attractive and that the belief of Belgians in real estate will not be damaged. All in all, we currently think that house prices will drop by about 2% in 2020 and remain constant in 2021.

  • Mardi 17/4/2018
    Frank Maet

    Speech based on presentation at Belgian Financial Forum, Lichtervelde, November, 30, 2017.