The added value of location highlighted
Everyone knows the saying 'location, location, location'. But what do you really pay for the location? How big is the price difference of a house based solely on its location, independent of the house itself?
- In 7 municipalities in Belgium, the location makes the price of a house more than double as expensive- Leuven remains the most expensive central city based on location
Twice as expensive in Brussels Region
In Belgium, there are seven municipalities where house prices are more than double the national average. Sint-Pieters-Woluwe, the municipality with the highest location price, has a price that is 2.29 times higher than the average. This means that a house worth €300,000 in Sint-Pieters-Woluwe can have a value of €687,000 based on location alone.
Interestingly, all seven municipalities are in the Brussels-Capital Region. In the most expensive Flemish municipality in terms of location, Knokke-Heist, a house costs almost exactly twice the national average (1.98 to be exact). In the first Walloon municipality on the list, Lasne, location costs ‘only’ 1.69 times the national average.
The cheapest location is found in Momignies in the province of Hainaut, where house prices are only 58% of the national average, almost half. The municipalities closest to the national average are Deerlijk and Hooglede in West Flanders.
Leuven remains the most expensive central city of Flanders, the location results in houses having an added value of 1.56 compared to the national average. Ghent follows at a considerable distance with an added value of 1.38, then come Antwerp and Mechelen (x 1.31). Ostend is just below the national average and Genk is the cheapest central city.
Read the full annual report here