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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • Belgium Housing Bubble Starts To Pop 2 comments
    Apr 12, 2014 5:06 PM

    Eurostat just released an update on the house prices in the Euro Area. I am actively following this to follow up on the Belgium housing market, which I think is in a bubble.

    The latest release on housing prices can be found in this report.

    The trend is obviously down since the crisis of 2008. So it is still not a good time to buy a house. Renting is a lot better. As a matter of fact, I just had a walk around my area with the dogs and I've seen so many homes for sale it's not funny anymore. Belgium is the least affordable country in the Eurozone to buy a house.

    (click to enlarge)

    Looks like Belgium is down 1.1% quarter over quarter and I expect it will get worse.

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  • cfransman
    , contributor
    Comment (1) | Send Message
     
    Hello Katchum,

     

    on what basis do you claim that Belgium is the 'least affordable country in the Eurozone to by a house'? From what I've seen, housing prices in the capital, Brussels, are still very low compared to Paris, London, Amsterdam or any other Eurozone capital.
    28 Apr 2014, 08:21 AM Reply Like
  • Katchum
    , contributor
    Comments (613) | Send Message
     
    Author’s reply » When you compare countries over the world, you can just find that the price to rent ratio is very high in Belgium. Also tax reforms are coming now as less subsidizing of home buyers will make housing less affordable in the future. Villa prices have come down substantially today.
    25 Sep 2014, 03:23 AM Reply Like
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