Average house price to top 200,000 euros

Fresh figures from the real estate sector show that house prices rose by 4.5% last year. The increase is smaller than in 2009.

Belgium's real estate sector was spared the big collapse in house prices that occurred in many countries as a result of the global financial crisis. As a consequence the upsurge in the market is also more modest here.

Based on industry figures the research department of the ING bank predicts that the average price of a house in Belgium will pass through the psychological 200,000 euro barrier in the course of 2011. As a result of higher prices more and more home buyers will have to moderate their ambitions and make do with smaller homes that do not meet top quality norms.

It's forecast that half of all homebuyers will soon be in this category.