House prices on the rise in Belgium

House prices in Belgium went up in the first half of 2015, despite a reform of the mortgage tax relief system. The increase is most noticeable in Flanders. The cost of an apartment at the Belgian coast, meanwhile, has stabilised after years of falling prices, reports De Standaard.

According to a notary barometer published on Thursday, the house prices in Belgium were expected to rise due to low interest rates The stabilising prices at the coast are remarkable, with the average price of a flat in the first half of this year increasing by 3.6% compared to the same period last year. However, the prices are still lower than before 2012.

"The period of decline is over," Bart Van Opstal of the notary federation told the newspaper. "This is the first positive trend after a long period of price declines in 2012, 2013 and 2014.”

The notary federation noted substantial house price increases across Belgium during the second quarter of this year for both houses and apartments. The number of transactions was also higher than a year ago.

A house in Flanders currently costs €260,862 on average (+3.7%). For an apartment in Flanders, the average cost is €209,748 (+4.5%). In Wallonia, the price increases have been limited, but there has been a marked increase in the number of transactions this year, with more than 10% more homes sold in the second quarter of 2015 than in the same period last year.