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Record year for property sales in Belgium

21:54 17/01/2017

Property sales in Belgium were up 8.2% in 2016 compared with the previous year, according to notaries' figures published on Tuesday.

The average price for a house increased slightly over the past year, about 0.9%. Taking inflation of 1.7% into account house prices fell in real terms.

However, the average price of an apartment increased 3.6% last year. In 2015 the average price was €205,148 compared to the 2016 price of €212,465.

"Low interest rates are undeniably a key factor," Notaire.be spokesman Bart Van Opstal told La Capitale. "They have facilitated access to property for many young people."

While the real estate market for Belgium as a whole was up, the numbers varied by region. The amount of transactions increased 12.5% in Brussels and 13.6% in Flanders, while falling 2.8% in Wallonia.

Written by Hannah Haynes