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The position of Brussels within the geography of housing prices in Belgium: an analysis through the lens of urban structure

Brussels Studies fact sheet
La position de Bruxelles dans la géographie des prix du logement en Belgique : une lecture à travers la structure urbaine
De positie van Brussel in de geografie van de woningprijzen in België: een analyse op basis van de stedelijke structuur
Symi Nyns
Traduction de Jane Corrigan
Cet article est une traduction de :
La position de Bruxelles dans la géographie des prix du logement en Belgique : une lecture à travers la structure urbaine [fr]
Autre(s) traduction(s) de cet article :
De positie van Brussel in de geografie van de woningprijzen in België: een analyse op basis van de stedelijke structuur  [nl]

Résumés

Cette étude évalue le positionnement économique actuel de Bruxelles dans l’espace belge en s’appuyant sur la géographie des prix du logement. Les analyses portent sur deux segments complémentaires du marché immobilier : celui de la location et celui de l’acquisition. Elles sont conduites à l’échelle régionale et à celle des complexes résidentiels urbains afin de tenir compte des spécificités de la structure urbaine belge. Les résultats mettent en évidence l’importance de cette configuration urbaine dans la structuration des prix du logement, ainsi que la place centrale occupée par Bruxelles, aussi bien sur le marché de la location que sur celui de l’acquisition. Au cours des dernières années, les loyers ont davantage progressé dans la Région que dans sa périphérie, tandis qu’en Flandre les prix de vente des maisons et des appartements ont enregistré les hausses les plus marquées.

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Notes de la rédaction

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Notes de l’auteur

The research behind this fact sheet was carried out as part of the analytical work conducted at the Brussels Institute for Statistics and Analysis (IBSA). The full results are available in IBSA Working Paper No 16.

Texte intégral

Introduction

1In the Brussels-Capital Region, the property sector is a cornerstone of the economy. In 2023, it accounted for 8 % of the Region’s economic activity, through the wealth generated by the property owned by Brussels residents [Wilmotte, 2026: 19]. Beyond the economic weight of the sector, an analysis of housing prices provides key insights into the structure and dynamics of the region. In particular, the spatial distribution of prices reflects the relative appeal of different areas [Thisse and Thomas, 2010]: higher prices generally indicate stronger spatial appeal, and vice versa. Price trends, in turn, shed light on broader issues such as housing affordability, household wealth, economic activity and the financial stability of the property sector [Reusens et al., 2022].

  • 1 https://ibsa.brussels/sites/default/files/publication/documents/4044170-PerspectiveBrussels-cahier_ (...)
  • 2 Unlike the purchase segment, rental data do not allow a distinction between houses and flats.

2This fact sheet presents the main findings of a study examining the position of Brussels within the Belgian economy through housing prices1. Two segments of the residential property market are analysed, taking into account the specific features of the country's urban structure. Firstly, the rental segment2 is examined using monthly rents (excluding service charges) for new leases registered between 2011 and 2024. The data come from the federal database of lease contracts (MyRent) registered with the Administration générale de la Documentation patrimoniale (General Administration of Property Documentation). They are enriched by Statbel and processed by the Institut Bruxellois de Statistique et d'Analyse (IBSA) for the purposes of this study. Secondly, the purchase segment is analysed using median sale prices for houses and flats between 2010 and 2024, calculated by IBSA on the basis of individual property transaction data provided by Statbel.

3To account for the specific features of the urban structure of Belgium, the analysis draws on the concept of the urban residential complex (URC), defined according to the urban regions methodology [Vanderstraeten and Van Hecke, 2019], which has recently been updated (Figure 1) [Bernier et al., 2026 – forthcoming]. In practice, a city’s URC is made up of its urban area, its suburbs and the residential areas of its commuters. This analytical scale serves a dual purpose, in line with the approach adopted by Thisse and Thomas [2010]: first, to assess the influence of Brussels beyond its administrative boundaries; and second, to highlight spatial contrasts which go beyond the traditional oppositions between the north and south of the country. Two types of URC are used as a scale of analysis alongside the administrative regions: regional URCs, comprising all major and regional cities (as shown in Figure 1); and the URCs of the five largest cities in Belgium considered individually (Brussels, Anvers, Gand, Liège and Charleroi). For regional URCs, municipalities belonging to the URC of a major or regional city were selected. Median prices were then calculated for all Flemish and Walloon municipalities meeting this criterion.

4Before presenting the main findings, the limitations of the study should be noted. Median prices are analysed without controlling for property characteristics (surface area, energy status, etc.). Furthermore, the study does not seek to explain the determinants of the positioning of Brussels, to provide precise estimates of rent levels, or to address directly the broader issue of housing costs. Its primary focus is the geography of housing prices in Belgium and the position of Brussels.

Figure 1. Urban residential complexes used in the study

Figure 1. Urban residential complexes used in the study

The delimitation of urban residential complexes using the urban regions methodology was updated in 2026 by Bernier, Maldague, Bianchet and Wilmotte (Lepur-ULiège), on the basis of the municipal boundaries as of 1 January 2025.

Source: IBSA based on [Bernier et al., 2026 – forthcoming]

1. Brussels as the dominant centre of the Belgian rental market, with faster rent increases within the Region than in its suburbs

1.1. Situation in 2024

5Housing rents vary considerably across Belgium (Table 1). The Brussels region records the highest rents. Even when accounting for the degree of urbanisation – which reduces interregional disparities – Brussels remains the most expensive of Belgium’s major cities.

6In 2024, rents in Brussels were 18 % higher than in Flanders and 31 % higher than in Wallonia. When comparing urban residential complexes, the gaps narrow but remain substantial. Rents in the Brussels URC are 12 % higher than in Flemish URCs and 27 % higher than in Walloon URCs. At the level of major cities, rents in Brussels are:

  • 8 % higher than in Anvers and Gand;

  • 23 % higher than in Liège;

  • 32 % higher than in Charleroi.

1.2. Price trends in the rental sector between 2011 and 2024

7Between 2011 and 2024, at the level of administrative regions, regional URCs and major cities, median rents for new leases increased faster than the cost of living. Adjusted for inflation, median rents have therefore continued to rise. In addition, a comparison of trends at regional and URC levels shows that rents have increased more rapidly within the Brussels Region than in its surrounding area.

8At regional level, rent increases were strongest in the Brussels Region (+13 %), compared with Flanders (+5 %) and Wallonia (+4 %). However, this pattern differs at the level of urban residential complexes (Table 1):

  • +3 % in the Brussels URC;

  • +5 % in Flemish URCs;

  • +6 % in Walloon URCs.

9At the level of major cities, Brussels (+3 %) recorded a smaller increase in median rents than Anvers (+10 %), Liège (+10 %) and Gand (+4 %).

Table 1. Change in median rents (2024, in euro) according to analysis scale between 2011 and 2024

Median rent 2011

Median rent 2024

Change (%)

At the level of administrative regions

Brussels Region

€ 865

€ 980

13 %

Flemish Region

€ 789

€ 830

5 %

Walloon Region

€ 721

€ 750

4 %

At the level of major and regional cities

Brussels URC

€ 892

€ 920

3 %

Flemish URCs

€ 783

€ 825

5 %

Walloon URCs

€ 686

€ 725

6 %

At the level of major cities

Brussels URC

€ 892

€ 920

3 %

Anvers URC

€ 776

€ 850

10 %

Gand URC

€ 817

€ 850

4 %

Liège URC

€ 684

€ 750

10 %

Charleroi URC

€ 686

€ 695

1 %

Source: Statbel 2025, IBSA calculations (deflator: health index, reference year 2024)

2. The purchase market centred on Brussels, Anvers and Gand, with stronger price growth in Flanders since 2010

2.1. Situation in 2024

10The Belgian purchase market is likewise characterised by significant variations in housing prices (Table 2). Taking account of the degree of urbanisation significantly reduces the price gap for houses between Brussels and Flanders. For flats, however, price differences remain broadly similar across scales, with Brussels still more expensive than Flemish URCs.

11In 2024, the median price of a house in the Brussels-Capital Region was € 505,000 – 53 % higher than in Flanders and two and a half times higher than in Wallonia (+153 %). Brussels remains the most expensive area when compared with Flemish and Walloon URCs, although the differences are less pronounced than at regional level. Thus, a house in the Brussels URC sells for 8 % more than in a Flemish URC and for just under twice as much (+98 %) as in a Walloon URC. At the level of major cities, the Brussels URC has a median house price comparable to that of Anvers and slightly higher (+5 %) than that of Gand.

12For flats, Brussels also remains the most expensive region, with a median price of € 260,000 in 2024. At the level of regional URCs, Brussels again records the highest median price. However, the trend changes between major cities: the Gand URC has the highest median price for flats, followed by the Brussels and Anvers URCs.

2.2. Price trends in the purchase sector between 2010 and 2024

13Between 2010 and 2024, median prices for both houses and flats increased more strongly in Flanders than elsewhere, regardless of the scale of analysis (Table 2, “change” columns).

  • 3 The reduction in registration duties for the purchase of a primary residence in Wallonia came into (...)

14At regional level, the median house price rose most sharply in Flanders (+17 %), followed by the Brussels Region (+10 %) and Wallonia3 (+1 %). A similar pattern is observed for regional URCs: Flanders has seen the biggest increase (+19 %, including +25 % in the Gand URC and +19 % in the Anvers URC), followed by Brussels (+9 %) and Wallonia (+3 %, including +8 % in the Liège URC and +6 % in the Charleroi URC).

15For flats, the same ranking applies: the Flemish Region shows the biggest increase (+18 %), followed by the Brussels Region (+15 %) and the Walloon Region (+8 %). This hierarchy is also observed at the regional URC level: increases reached 20 % in Flanders (including +24 % in Anvers and +20 % in Gand), 15 % in Brussels, and 5 % in Wallonia (including +9 % in Liège and a decrease of −6 % in Charleroi).

Table 2. Change in median sale prices (2024, in euro) for houses and flats according to analysis scale between 2010 and 2024

Houses

Flats

Median price 2010

Median price 2024

Change

(%)

Median price 2010

Median price 2024

Change

(%)

At the level of administrative regions

Brussels Region

€ 459,831

€ 505,000

10 %

€ 226,378

€ 260,000

15 %

Flemish Region

€ 282,973

€ 330,000

17 %

€ 212,230

€ 250,000

18 %

Walloon Region

€ 198,081

€ 200,000

1 %

€ 162,710

€ 175,000

8 %

At the level of major and regional cities

Brussels URC

€ 339,568

€ 369,000

9 %

€ 226,378

€ 260,000

15 %

Flemish URCs

€ 287,218

€ 342,000

19 %

€ 205,155

€ 246,500

20 %

Walloon URCs

€ 180,395

€ 186,000

3 %

€ 152,805

€ 160,000

5 %

At the level of major cities

Brussels URC

€ 339,568

€ 369,000

9 %

€ 226,378

€ 260,000

15 %

Anvers URC

€ 311,270

€ 370,000

19 %

€ 194,544

€ 242,000

24 %

Gand URC

€ 279,436

€ 350,000

25 %

€ 229,208

€ 276,000

20 %

Liège URC

€ 183,933

€ 199,000

8 %

€ 155,635

€ 170,000

9 %

Charleroi URC

€ 155,635

€ 165,000

6 %

€ 127,338

€ 120,000

-6 %

Source: Statbel 2025, IBSA calculations (deflator: health index, reference year 2024)

Conclusion

16This study set out to position Brussels within the Belgian economic landscape through an analysis of the geography of housing prices, taking into account the rental and purchase markets. The findings underscore the central role of the urban structure of Belgium in shaping housing prices and show that regional disparities observed at national level partly conceal more detailed urban dynamics.

17In 2024, the Belgian rental and purchase markets exhibited marked regional price differences, with Brussels standing out as the most expensive area. These disparities are explained in part by levels of urbanisation rather than solely by administrative boundaries. The analysis reveals that housing prices are structured around major cities, with Brussels as the dominant centre, thus confirming its key role in price dynamics.

18On the rental market, the Brussels URC clearly emerges as the dominant centre. The trend is different on the purchase market: house prices in the Brussels URC are comparable to those in Anvers and slightly higher than in Gand, while for flats the Gand URC records the highest median prices.

19Between 2011 and 2024, rents increased faster than the cost of living, with stronger growth within the Brussels Region than in its surrounding area. As regards the purchase market, Flanders has seen the most pronounced increases in house and flat prices since 2010, ahead of Brussels and Wallonia.

20IBSA Working Paper No 16 provides a more detailed analysis at municipal level, highlighting local trends beyond the major and regional cities considered here.

21In light of these findings, further research could identify the factors underpinning the geography of housing prices and their evolution at various levels. This would involve linking rental and sale prices to property characteristics, as well as comparing price trends with demographic and economic developments. Such perspectives also point to the broader issue of housing data availability – often limited, particularly in Brussels – and the analytical implications in terms of housing, which remains a fundamental issue.

The author would like to thank those who reviewed this fact sheet and the IBSA working paper, whose suggestions helped improve the quality of these documents.

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Bibliographie

BERNIER, C., MALDAGUE, H., BIANCHET, B. and WILMOTTE, P.-F., 2026 – forthcoming. La structure urbaine belge : quelle est la place de la Région de Bruxelles-Capitale ? In: Cahier de l'IBSA No 17.

REUSENS, P., VASTMANS, F. and DAMEN, S., 2022. The impact of changes in dwelling characteristics and housing preferences on Belgian house prices. In: NBB Economic Review. 11/04/2022. No 2, 40 pp. Available at: https://www.nbb.be/en/publications-research/publications/publications/impact-changes-dwelling-characteristics-and-housing

THISSE, J.-F. and THOMAS, I., 2010. Bruxelles au sein de l’économie belge : un bilan. In: Regards économiques. 05/2010. No 80, 18 pp. Available at: https://www.regards-economiques.be/index.php?option=com_reco&view=article&cid=91

VANDERSTRAETEN, L. and VAN HECKE, E., 2019. Les régions urbaines en Belgique. In: Belgeo. 08/02/2019. Vol. 1. Available at: http://journals.openedition.org/belgeo/32246

WILMOTTE P.-F., 2026. La géographie de la création de richesse en Belgique. Série thématique : Bruxelles au cœur de l’économie belge. In: Cahier de l'IBSA. 01/2026. No 15, 70 p. Available at: https://ibsa.brussels/sites/default/files/publication/documents/Cahier_15_FR.pdf

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Notes

1 https://ibsa.brussels/sites/default/files/publication/documents/4044170-PerspectiveBrussels-cahier_16-FR10.pdf

2 Unlike the purchase segment, rental data do not allow a distinction between houses and flats.

3 The reduction in registration duties for the purchase of a primary residence in Wallonia came into force on 1 January 2025, i.e. after the study period.

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Table des illustrations

Titre Figure 1. Urban residential complexes used in the study
Légende The delimitation of urban residential complexes using the urban regions methodology was updated in 2026 by Bernier, Maldague, Bianchet and Wilmotte (Lepur-ULiège), on the basis of the municipal boundaries as of 1 January 2025.
Crédits Source: IBSA based on [Bernier et al., 2026 – forthcoming]
URL http://journals.openedition.org/brussels/docannexe/image/9149/img-1.jpg
Fichier image/jpeg, 127k
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Pour citer cet article

Référence électronique

Symi Nyns, « The position of Brussels within the geography of housing prices in Belgium: an analysis through the lens of urban structure  »Brussels Studies [En ligne], Fact Sheets, document 216, mis en ligne le 22 avril 2026, consulté le 11 mai 2026. URL : http://journals.openedition.org/brussels/9149 ; DOI : https://doi.org/10.4000/163w2

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Auteur

Symi Nyns

Symi Nyns is a geographer who has been an IBSA expert since 2023 in the Territory and Population Unit. Her analyses focus mainly on housing. Her doctoral thesis focused on the development of informal tourist accommodation in Wallonia and its impact, based on mobile telephony data. She is also a research associate at Laplec at the Université de Liège.

snyns[at]perspective.brussels

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