Walloon real Estate Market Heats Up, But Reformโข May โBenefit Sellers Moreโ Than Buyers
Walloon Brabant, belgium – A surge in home sales following the reduction of registrationโค fees to โ3% isโค fueling intense competitionโฃ among buyers in Wallonia, with some properties attracting bids 10% above โคthe asking price, according to real estate professionals. While the reform aimed to improve โฃaccess to homeownership,โ experts suggest โขsellers are currently reaping theโ biggest rewards.
The marketโค experienced a “complete โrevival” beginning in February-March, driven by theโ loweredโฃ registrationโ fees, reports โCatherine Delforge, director of the GET Masterโค agency in Court-Saint-รtienne. prices have risen โคbetween 8 โคand 10% recently, with properties selling quickly, often within the agency’s existing client base without needingโค wider advertising.
“The goods are sold quickly, โคsometimes โฃonly via the agency customer base, without going through specialized portals. Competition between candidates even leads to bids of 10 โ% above the displayed โฃprice,” Delforge stated.
Though the price increases partially offset the savings fromโ the registration fee reduction – impacting monthlyโ mortgageโค payments rather than the initial transaction cost – โthe reform โisโค still expected to facilitate faster access โto property ownership.A stabilization of prices is anticipatedโข following the initial surge.
However, the benefitsโฃ may be short-lived. Mortgage rates, which temporarily fell to around 3 to 3.5% in โthe first halfโ of 2025,are now rising โagain,potentially slowingโ demand in the โขlatter half of the year,warnsโ Jean-Frรฉdรฉric vigneron,a notary in Wavre.
The reform alsoโฃ appears to be negatively impacting new construction projects. The significant tax difference – 3% registration fees โfor โexisting properties versus 21% VAT for new builds – is making โit challenging for developers to find buyers. “For the purchase ofโ an existing property, the buyer pays 3 % of rightsโฆ In new, it is 21โค %โ VAT. The difference is enormous: โeighteen taxโข points. Result:โ many new projects are struggling to find takers,” Vigneron explained.
