Monthly interest rate for new mortgages Belgium rate fixation 5 to 10 years 2019-2023

In August 2023, the interest rate for mortgages with an initial rate fixation of five and up to ten years was 3.78 percent. This mortgage rate saw a general increase since the beginning of 2022. Rising mortgage rates might be a reason for the value of new mortgage lending fell in 2022. As borrowing costs increase, taking out a mortgage becomes less affordable for home buyers, also leading to the mortgage market slowing down.

What about housing prices in Belgium?

On average, a house cost approximately 319,000 euros in Belgium in 2022. Big price differences are observed, however, among the three regions of the country. A house in the French-speaking region of Wallonia is much more expensive on average than a house in the Brussels-Capital Region (the city of Brussels with its surrounding villages).

Belgium’s real estate market grows steadily

Property transactions in Belgium are affected by the country’s fiscal system. When purchasing a house in Belgium, consumers pay the asking price plus ten (in Flanders) or 12 percent (in Wallonia and the Brussels-Capital Region) in registration rights. This makes buying a house in Belgium a long-term investment and something consumers do not do right away.