Review of the year 2024
In 2024, the Brussels real estate market experienced a stabilization period after several years of significant fluctuations. Property prices, which had plateaued in 2023, remained relatively stable throughout the year. This stability reassured homeowners about the value of their properties and restored confidence among potential buyers.
After reaching historic highs in 2023, borrowing rates began to gradually decrease in 2024. By the end of the year, mortgage interest rates averaged around 3%. This reduction in rates facilitated access to credit and supported the financing of real estate projects, thereby encouraging transactions.
However, the Brussels real estate market faced several challenges. The political context, marked by regional uncertainties, along with tax developments in neighboring regions, influenced buyer behavior. Many Brussels residents chose to leave the capital to settle in the suburbs or in the countryside, attracted by a different quality of life and more affordable property prices.
Despite these challenges, certain neighborhoods in Brussels continued to attract buyers thanks to their unique appeal and quality infrastructures. Areas such as Ixelles, Uccle, and Woluwe-Saint-Lambert saw sustained interest, with a consistent demand for high-quality properties.
Forecasts for 2025
Looking to 2025, several trends and forecasts are emerging. According to a recent study published by ING, the Brussels real estate market is expected to see a slight price increase, estimated at around 3%. This rise will be supported by improved accessibility to property due to wage indexing and a slight decline in interest rates.
In terms of market segments, the luxury real estate sector is expected to continue attracting investors, while the market for more affordable properties may benefit from purchase support measures for young households. Energy renovation initiatives, supported by public subsidies, should also boost the market for older properties needing modernization.
In conclusion, the Brussels real estate market appears to be entering a phase of gradual recovery. The coming years promise to be interesting for those looking to invest in real estate in Brussels, with opportunities for sellers, buyers, and investors. Caution remains necessary in light of political and economic developments, but the outlook for 2025 is generally positive.
