Home » Business » Real estate prices continue to rise: house now costs an average of 322,274 euros | Money

Real estate prices continue to rise: house now costs an average of 322,274 euros | Money

Savings guideAfter previously questioning the mortgage mandate, the European Banking Authority (EBA) is now arguing for a mandatory value assessment when granting home loans. In this way, it wants to prevent buyers from borrowing excessively for properties with an overestimated value. But how much does the Belgian borrow today and threaten to overplay his hand? Spaargids.be goes into more detail.




Real estate prices are still going through the roof. A house in our country cost an average of 4.5% more in the first six months of 2021 compared to the annual average of 2020. Taking into account an inflation of 1.3%, this was a real price increase of 3.2% or a extra cost of an average of 9,000 euros. In Flanders, the price of a house averaged 322,274 euros, in Wallonia at 214,824 euros and in Brussels at 507,936 euros.

Average credit amount for existing home: 182,500 euros

These high prices often also require additional financing from the buyer. In addition, the low interest rates are an extra motivator to borrow. Anyone who builds a house borrowed an average of 206,000 euros from the bank in the second half of 2021. That is an increase of 38,000 euros or 22% since the beginning of 2019. The average credit amount for the purchase of a home was 182,500 euros or 14.5% more than at the beginning of 2019.

Tip: Check here at which interest rates other buyers borrow

Stricter rules for banks

At the end of 2019, the National Bank expressed its concern about the excessive monthly debt burden of many Belgians in relation to their monthly disposable income. She then imposed stricter rules on lenders for granting home loans. For example, the buyer must immediately put on the table 10% of the purchase price and the costs. However, there is an exception for those who buy a home for the first time.

A maximum of 35% of the loan volume of starting buyers may have a higher quota. This means that they can borrow more than 90% of the purchase amount. With a maximum of 5% of this, the quantity may exceed 100% of the purchase value. For a maximum of 20% of the other buyers – ie those who are not buying a home for the first time – the quota may be between 90 and 100% of the purchase value.

Own contribution: an average of 113,827 euros

These stricter measures ensured that the average own contribution in 2020 was already a third higher than in 2019. Last year, it was an average of 113,827 euros across all age groups. This is apparent from a study that Ivox commissioned by Finotheker to carry out among 2,000 Belgians.

The over-40s in particular raise the average personal contribution. The 25 to 30-year-olds immediately put an average of 72,958 euros on the table. It should therefore come as no surprise that almost half of the younger homeowners receive a strong push from their parents or other family members. 51% of young starters even consider it impossible to buy a house without family support.


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