Number of mortgage applications percentage change in Belgium 2018-2020

The percentage change on previous year of the total number of mortgage applications in Belgium from August 2018 to October 2020 varied drastically each month. In August 2019, the total number of mortgage applications in Belgium increased by approximately 14 percent when compared to the previous year. In October 2020, the change was around 25.7 percent as compared to the year before. In the spring of 2020, a large drop was visible; this could be explained by the effects of the COVID-19 pandemic in Belgium.

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. Between the third quarter of 2017 and the third quarter of 2018, the house price index of Belgium increased from 152 to 156, whilst the indices of Luxembourg and the Netherlands increased from 160 to 166 and 107 to 117 respectively in the same period.