L’Avenir – 09-04-2022
On the Flemish outskirts of BXL, property prices are also soaring.
House prices are on the rise in almost all the Rand entities, the 19 municipalities of the Flemish Region surrounding the Brussels-Capital Region.
Leave Brussels for the Vlaamse Rand to find a more affordable home. Many households make this choice every year. In Brussels, the median price for a home is €462,750 for 2021, according to data from the Royal Federation of Belgian Notaries (Fednot). In the Hal-Vilvoorde district, this price is €366,000 (slightly higher than the median prices for Flemish Brabant, €360,000, and Walloon Brabant, €355,000).
Although real estate is generally less expensive on the outskirts than in the center, prices, as elsewhere, are nevertheless rising sharply: +8% in one year in the Hal-Vilvoorde district.
An increase that comes as no surprise to Brussels notary Jean Martroye de Joly: “It’s the simple principle of supply and demand. The real estate market has been influenced in particular by the Covid crisis, and many people are looking for space and a garden”.
According to the notary, Flanders’ tax advantages also play a role in the appeal of the region, and therefore in demand. It’s also worth noting that the Flemish Brabant district surrounding the capital is experiencing higher population growth (1%) than the Brussels-Capital Region.
The eastern Rand is more expensive
The highest prices are to be found in the eastern part of the Flemish belt, led by Kraainem (median house price €576250 in 2021) and Wezembeek-Oppem (€550,000), two neighboring communes with similar facilities, followed by the neighboring entities of Tervuren and Overijse.
According to Kraainem’s mayor, Bertrand Waucquez, the high prices in his municipality can be explained, among other things, by the strong presence of expatriates with high purchasing power, by the language facilities and by the convenience in terms of mobility: “The municipality is, it has to be said, very well located”. To enable young people to stay in the increasingly expensive municipality, the Kraainem local authority wants to promote “kangaroo housing”, i.e. the co-location of several family units in the same building.
Drogenbos is the Rand’s “cheapest” municipality, with a median price of €300,000, 15% lower than in 2020. According to the notary and the mayor of Drogenbos, this variation is not significant, due to the small size of the commune and the limited number of observations. “The least expensive of the most expensive. Property prices are still high and everything is selling very well,” says Alexis Calmeyn.
Vilvoorde, Machelen, Leeuw-Saint-Pierre, Merchtem and Beersel are also among the most affordable communities in the Flemish belt.
Apartment prices are also on the rise
For apartments, the price gap between the Brussels and peripheral medians is narrower. However, the nature of the goods is different, as is the number.
The least expensive for houses, Drogenbos is by contrast the most expensive Rand commune for apartments, with an increasing median price of €279625. A price similar to that of a municipality like Etterbeek or Watermael-Boitsfort. “New apartments have been built recently, driving up prices,” adds Alexis Calmeyn.
However, these averages conceal very different local realities. In Brussels, and this is anything but a surprise, prices vary drastically from one entity to another: €690,000 median price in Ixelles, versus €330,000 in Molenbeek. The same is true of the Rand, with major disparities between these 19 outlying towns.
