Please Wait.....
Report
Belgium Luxury Residential Real Estate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
Belgium Luxury Residential Real Estate Market is expected to register a CAGR of more than 4% during the forecast period (2022-2027).
The COVID-19 pandemic severely affected the luxury homes market, as the market experienced decline in sales transactions. Due to the pandemic restrictions and lockdown measures which affected sales in the country. In addition, Flanders witnessed decline in sales 24.6% in the first three quarters in 2020, followed by Wallonia (-11.0%) and Brussels (-14.3%).
According to Belgian Federal Government, the annual inflation rate for house prices amounts to 8.2 % in the third quarter of 2021 compared to 7.4 % in the previous quarter. Also, the house price index can be broken down by new houses and existing houses. In the third quarter of 2021, annual inflation amounted to 8.7 % for new houses and 8.2 % for existing houses. The weights of these two types of houses (new houses and existing houses) in the overall index amount to 28.4 % and 71.6 % respectively for the year 2021.
Furthermore, the demand for luxury homes is driven by people's growing preference towards luxury amenities, and wealthy buyers who are looking for reliable places for real estate investments. Moreover, the number of permits issued for new residential buildings in 2021 has increased by 11.2% to 31,804 buildings compared to 2020. This increase can be observed in each of the 3 regions, as building permits amounted to 8.6% in the Flemish Region, to 19.4% in the Walloon Region and to 21% in the Brussels-Capital Region.
Belgium Luxury Residential Real Estate Market Trends
Belgium is Experiencing Growth in Dwelling Units
Belgium is witnessing significant growth in luxury real estate market, which is driven by changing lifestyle of young generation of business leaders, entrepreneurs or wealthy professional men and women, who are keen on travel, new experiences, leisure, and flexibility, which leads them to prefer cities such as Brussels, Antwerp, Ghent or their nearby green suburbs. Further supporting the highest number of luxury homes sales in Belgium, majorly in top 4 municipalities (Antwerp, Schilde, Sint-Martens-Latem, Uccle).
According to the house price index published by Statbel, house prices across Belgium as a whole rose by 8.2% in Q3 2021 compared to 7.4% in the previous quarter. The average price inflation rate for the last four quarters (Q3 2021-Q3 2020) amounts to 7.1%. The house price index stands at 129.46 points against 125.71 points in the previous quarter, it has increased by 3.0% compared to the second quarter of 2021.
Furthermore, in 2021, more than 5.63 million new dwelling units were built, with 1% growth rate from 2020 (5.57 million units). In addition, different categories in dwelling units are closed homes (with 1,338,418 units), half-closed homes (with 1,006,310 units), open type homes with farms (with 1,438,396 units), apartments (with 1,544,045 units), houses of commerce (with 160,569 units), and other buildings (with 143,899 units).
Flemish Region is Witnessing Significant Growth
Flemish region is experiencing significant growth in luxury housing market, due to urbanization. Flemish region is characterized by extensive urban sprawl, more than 33% of its territory is now "settlement area", which is used for housing, industrial and commercial purposes, health care, education, nursing infrastructure, roads and rail networks, recreation, etc. Furthermore, in December 2021, the Flemish Parliament approved a series of changes to reduce the registration duties on the sale of residences, which supported the building sales in this region.
In addition, in January 2022, the rates are further reduced on the purchase of an owned and only residence, the rate drops to 3% (instead of 6%). In the case of a major energy renovation or demolition and rebuilding of the house, the rate will be 1% (previously 5%). However, the maximum purchase price for a modest house increases from EUR 200,000 to EUR 220,000. In some cities, the limit rises from EUR 220,000 to EUR 240,000.
In 2020, more than 75,600 building units were sold in Flemish region, which is slightly declined from previous year due to the pandemic crisis. Now the sector is experiencing rapid growth, which is supported by urbanization, and reduced taxes. In 2021, more than 1.4 million housing units were built with built-up area on the ground exceeding 104 square meters, in which open type of houses along with farms contributed largest share with 59% of the total housing units.
Belgium Luxury Residential Real Estate Market Competitor Analysis
Belgium Luxury Residential Real Estate Market is fragmented with many players. Key players in the market are leveraging partnerships, acquisitions, and mergers to capture the market share. Some of the major players in the market include Be Luxe, BellesDemeures, BARNES, Sotheby's International Realty Affiliates LLC, and Mexx.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Luxury Residential Real Estate Buying Trends - Socioeconomic and Demographic Insights
4.3 Government Initiatives, Regulatory Aspects for the Luxury Residential Real Estate Sector
4.4 Supply Chain/Value Chain Analysis
4.5 Market Dynamics
4.5.1 Market Drivers
4.5.2 Market Restraints
4.5.3 Market Opportunities
4.6 Porter's Five Forces Analysis
4.7 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION (Market Size By Value)
5.1 By Type
5.1.1 Apartments and Condominiums
5.1.2 Landed Houses and Villas
5.2 By Region
5.2.1 Walloon Region
5.2.2 Brussels Region
5.2.3 Flemish Region
5.2.4 Rest of Belgium
6 COMPETITIVE LANDSCAPE
6.1 Overview (Market Concentration and Major Players)
6.2 Company Profiles
6.2.1 Be Luxe
6.2.2 BellesDemeures
6.2.3 BARNES
6.2.4 Christies International Real Estate
6.2.5 Mexx
6.2.6 Sotheby's International Realty Affiliates LLC
6.2.7 Luxe Places International Realty
6.2.8 EMILE GARCIN
6.2.9 Archybald
6.2.10 Swixim
6.2.11 Immobiliere Le Lion
6.2.12 Benjamin Gaspard Immobilier
6.2.13 MANSION GLOBAL
6.2.14 IMMOBEL
7 FUTURE OF THE BELGIUM LUXURY RESIDENTIAL REAL ESTATE MARKET
8 APPENDIX
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security