Three months ago I reported that Belgium's housing market was starting to decline. Statistics Belgium reported this month the actual numbers for the first half of the year 2014.My suspicion was correct.
Villa's throughout Belgium, especially in the southern region, have fallen. Villas fell 0.3% year over year.
Also normal residence housing has stopped rising. Brussels had a year over year decline of 2.8% in the residential area.
Instead, people are now buying the cheaper alternatives: appartments and building grounds. These rose 1.7% and 3.7% respectively.
In the chart below you can see that the red and blue chart are starting to decline. I'd say the bubble is about to burst. We'll see in a few months.
Villa's throughout Belgium, especially in the southern region, have fallen. Villas fell 0.3% year over year.
Also normal residence housing has stopped rising. Brussels had a year over year decline of 2.8% in the residential area.
Instead, people are now buying the cheaper alternatives: appartments and building grounds. These rose 1.7% and 3.7% respectively.
In the chart below you can see that the red and blue chart are starting to decline. I'd say the bubble is about to burst. We'll see in a few months.
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| Housing prices Belgium |
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