Belgian property sales rose again in 2015

In Belgium last year, 6.4% more homes were sold than in 2014, according to the 2015 Notary Barometer released by the Royal Federation of Belgian Notaries (KFBN). It is the seventh year in a row that the number of property sales increased in the country, reports De Morgen.

The average is pulled upward in Wallonia, where the number of real estate transactions last year increased by more than 10%. But property sales also increased in Brussels (+4.8%) and across Belgium (+4.7%).

According to the KFBN, low interest rates are one of the main reasons behind the positive trend. "Low interest rates will convince many young people to take the step to buy a home, as well as middle-aged people looking for a profitable real estate investment," explained spokesman Bart van Opstal in a press release. "The trend is also a result of our ageing population,” he said. “Many older people sell their home and exchange it for an apartment or a form of assisted living."

The average selling price for a home in Belgium last year remained stable compared to 2014, at €234,699 for a house (+0.1%) and €205,148 for an apartment (+1.9%).