Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Belgium has been experiencing significant growth and development in recent years. Customer preferences in the Belgian Real Estate market have been shifting towards more sustainable and energy-efficient properties. This trend is driven by increasing awareness of environmental issues and a desire to reduce energy consumption and costs. As a result, there is a growing demand for properties with energy-efficient features such as solar panels, insulation, and smart home technology. Additionally, customers are also looking for properties that are located in close proximity to amenities such as schools, shops, and public transportation. One of the key trends in the Belgian Real Estate market is the increasing popularity of urban living. Many people are choosing to live in cities due to the convenience and amenities they offer. This has led to a high demand for properties in urban areas, particularly in major cities like Brussels, Antwerp, and Ghent. As a result, property prices in these areas have been steadily increasing. Another trend in the Belgian Real Estate market is the rise of co-living and co-working spaces. With the growing popularity of remote working and the gig economy, more people are looking for flexible and affordable living and working arrangements. Co-living and co-working spaces provide a solution to this demand by offering shared living and working spaces with flexible lease terms. This trend is particularly popular among young professionals and digital nomads. Local special circumstances in the Belgian Real Estate market include the high population density in urban areas and strict zoning regulations. The high population density in cities like Brussels and Antwerp has led to a scarcity of available land for development, driving up property prices. Additionally, strict zoning regulations make it challenging to build new properties, further contributing to the limited supply of housing. Underlying macroeconomic factors that have contributed to the development of the Belgian Real Estate market include low interest rates and a strong economy. Low interest rates have made it more affordable for people to borrow money to purchase properties, increasing demand. The strong economy has also boosted consumer confidence and spending power, further fueling the real estate market. In conclusion, the Real Estate market in Belgium is experiencing growth and development driven by customer preferences for sustainable and energy-efficient properties, the popularity of urban living, and the rise of co-living and co-working spaces. Local special circumstances such as high population density and strict zoning regulations contribute to the limited supply of housing. Underlying macroeconomic factors such as low interest rates and a strong economy further support the growth of the market.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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