What will the housing market look like in 2023? And what will happen to real estate prices in the new year? At habicom, we saw that last year the cards were reshuffled. In the first half of 2022, house and apartment prices continued to rise, as in previous years, but in the second half, the Belgian real estate market cooled down and house prices stabilized.
We expect this trend to continue in 2023, but with this important caveat: the price gap between energy-efficient and homes in need of renovation is widening. The main reasons for this are the energy crisis and stricter regulations on sustainable living. For example, new owners of energy-guzzling residential buildings (with an EPC label E or F) have been required since January 1 to thoroughly renovate the property energetically to a minimum EPC label D within 5 years of transfer (such as purchase, leasehold, etc.). This must be proven with a new EPC.
At habicom, we see that a low EPC score is becoming increasingly important for potential buyers. Recent research by ING shows the same: half of Belgians would not buy a house with a poor energy score. 36% would only proceed with the purchase if there is enough budget left for the renovation. However, the costs have also increased due to increasingly expensive building materials.
However, there is also good news. Economists expect a decrease in inflation for the spring. They also predict that mortgage rates will stop rising and stabilize. Along with the stabilization of housing prices, this would mean an improvement in the affordability of real estate. Good prospects for those looking for a new home in 2023.
Curious about the correct rental price or selling price of your property? Have a free habicom check performed by one of our experts. Call 03 449 42 41 or email hallo@habicom.be.
Price gap is widening
