Houses in Brussels became cheaper in 2017!

Over the past year house prices in the Belgian and Flemish capital fell by 2.5% on average. By the end of the year the average home in Brussels would set you back 430,000 euros and that is 10,000 euros cheaper than at the beginning of the year.

Notaries, who do the conveyancing in Brussels, say that they are not concerned. Notary Stijn Joye: "The average price is not the best barometer. The median price is a better reflection of real prices and this only fell by a half of one percent. Really we can speak of a stabilisation."

The average price of flats rose by 3%. Last year the average Brussels flat cost 235,000 euros. The figures show that more and more youngsters are buying real estate and that is new. This is the result of changes to the registration fee system (the taxes paid on purchasing a house). People buying a first property under 500,000 euros don't need to pay any tax on the first 175,000 euros in Brussels. As a result of the change youngsters had more readies with which to make an acquisition.