In 2020, the price of houses in Belgium is on average overvalued by 8.73%, according to an analysis carried out by the bank Belfius on Thursday. The data taken into consideration are the price of the dwellings, the disposable income per tax declaration, the mortgage rate and the number of households.
The analysis, carried out between 2005 and 2020, shows that the real estate market was overvalued between 2010 and 2013 and has been so again since 2019. The Belfius research service assumes that overvaluation will continue, house prices having climbed an average of 7.1% in 2021.
The areas where the market is mainly overvalued are Walloon Brabant, Antwerp, the outskirts of Liège, East Limburg, the Coast and the Brussels-Capital Region.
On the other hand, there are a large number of undervalued municipalities, notes Belfius. A large part of eastern Flanders remains very affordable (Grammont, Ronse, Zottegem, etc.), as do certain municipalities in western Flanders, Limburg and even Hainaut (Dour, Framerie and Froidchapelle).
Our expert in economic issues, Bruno Wattenbergh, mentioned the issue a few months ago on RTL info: