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Is the Belgian real estate market in freefall? A detailed analysis

The real estate market often serves as a barometer for the overall health of an economy, and recent statistics have raised eyebrows and prompted questions about the stability and future of this sector. A notable 15.2% decrease in property sales has led many to wonder: Is the real estate market in freefall?

National Transaction Trends

At a national level, the real estate transaction volume has experienced a modest dip of 1.1%. While this decrease might seem insignificant at first glance, a closer look reveals a more concerning statistic – a 15.2% drop in the sales of houses and apartments. Renaud Grégoire, a notary and spokesperson for Notaire.be, attributes this downturn to two main factors: the rise in interest rates and the overall economic situation, both of which have led to a cooling of the market.

Regional Disparities and Price Stability

The impact of this downturn is not uniform across all regions. Flanders has experienced the sharpest decline, with sales plummeting by 16.9% compared to 2022. Wallonia and Brussels follow suit with respective decreases of 12.1% and 12.4%. Despite these downturns, the average prices of houses and apartments have remained relatively stable, showing a slight national average increase. The average house price now stands at 322,780 euros, a modest rise of 1.1% excluding inflation. Apartments have seen a slightly higher increase of 1.6%, with an average price of 264,792 euros.

Brussels continues to be the most expensive region, though the average price of houses there has declined over the year, from 576,576 euros to 562,489 euros. The average price of an apartment in the capital, however, remains significantly above the national average at 280,520 euros.

Wallonia shows significant price disparities between its provinces. For instance, the median price for a house in Brabant Wallon is 415,850 euros, while in Hainaut, the average cost is 195,078 euros.

In Flanders, the average cost of a house is around 358,677 euros (up by 3%), and the average price for an apartment is 276,450 euros. The cool market in Flanders could be attributed to mandatory renovation obligations and a backlash after years of boom, partly due to decreases in registration rights.

Why Aren’t Prices Falling?

Despite a decrease in demand, prices aren’t falling. This phenomenon can be explained by several factors. The cost of materials and construction, the shortage of new properties on the market, and the growing importance of Energy Performance Certificates (PEB) make high-quality properties more attractive. These properties are trading at increasingly higher prices, offsetting the stagnation in prices of properties that require renovation. The average of the two results in a stabilization of prices, even in the face of declining demand. It’s important to note that the increase in property prices should be contextualized with the prevailing inflation rate.

Future Outlook for the Real Estate Market

Looking ahead, the real estate market is likely to continue facing challenges. The tightening of financial conditions, potential increases in interest rates, and ongoing economic uncertainties are factors that could further impact the market. However, the fundamental demand for housing, driven by population growth and urbanization, might prevent a significant crash in prices.

Investor’s Perspective

From an investment standpoint, the real estate market still holds potential, especially in sectors that are less sensitive to economic fluctuations, such as rental properties and commercial real estate. Investors might find opportunities in markets that have shown resilience or in properties that cater to emerging trends, like sustainable and energy-efficient buildings.

Conclusion

The Belgian real estate market is navigating a period of uncertainty and adjustment. While the drop in sales raises concerns, the market’s fundamentals, combined with regional disparities and the resilience of property prices, suggest a complex and nuanced picture. Investors and homeowners alike should stay informed and adaptable, keeping an eye on both macroeconomic trends and local market conditions to make wise decisions in this evolving landscape.

20/01/2024
Babyproofing your bathroom: a step-by-step guide

Welcoming a new baby into your home requires thoughtful adjustments, especially in areas like the bathroom. It’s essential to ensure the safety and comfort of your little one. This guide will help you transform your bathroom into a playful and secure space, making bath time a shared joy.

Nihal Karkala

Creating a playful and safe space for baby

The first step in babyproofing your bathroom is to make it appealing to your baby. Brighten up the space with colorful animal stickers and playful patterns. Invest in a soft bath mat for your baby’s comfort during bath time. Small details can significantly enhance the ambiance. Don’t forget to buy bath toys – they’re not just for fun, but also for developing sensory skills.

Functional space with a changing table

Setting up a changing table in your bathroom is a crucial step. This area will become your go-to spot for diaper changes, drying your baby, and storing essentials like soap, diapers, and clothes. Efficient organization will streamline your daily care routines.

Thermostatic mixer tap: a smart solution

Checking bath water temperature is a major concern for parents. While experienced midwives can accurately estimate the ideal temperature, a playful bath thermometer adds an extra layer of safety. Choose fun designs like floating ducks that also entertain your baby during bath time. For an even more effective solution, consider investing in a thermostatic mixer tap with a temperature limiter set to 38 degrees. This innovative feature ensures the bath water never gets too hot, eliminating the risk of burns.

Faucet protection

As your baby enjoys bath time, there’s a chance of occasional slips and falls. Prevent injuries by covering the faucet with a protective cover. You can buy one or make a DIY version by wrapping a cloth around the tap. Another important accessory is a non-slip bath mat, which provides stability and safety.

Securing electrical outlets

Your curious little explorer will soon be crawling around the bathroom. To them, everything is intriguing, especially electrical outlets at eye level. Thankfully, simple and effective outlet covers are available to prevent your child from poking fingers into them. These should be a must-have on your baby-proofing checklist.

Storing dangerous items safely

The next step involves storing hazardous items like medicines, scissors, razor blades, and cleaning products out of reach. Develop a habit of keeping these items in high cabinets. Consider installing child safety locks on some drawers and cabinets. They are quick to install, inexpensive, and provide peace of mind.

In conclusion, these simple and practical steps will help you fully enjoy the precious moments with your little one. Transform your bathroom into a playful, functional, and safe space for unforgettable bonding experiences.

19/01/2024
5 essential cold wave precautions to protect your home

As the cold wave sweeps across the region, our homes face significant challenges. With plummeting temperatures and harsh conditions, it’s crucial to take proactive steps to protect your property and avoid damage. Here are five essential precautions to help safeguard your home during this cold spell.

1. Heating Systems

Your heating system works overtime during cold waves. To prevent any issues when restarting, it’s advisable to keep it running day and night. Set a lower temperature for the night to prevent the indoor temperature from dropping too low. If you’re using a wood or pellet stove, only use high-quality fuel and ensure thorough cleaning in all corners. Chimney maintenance is key, especially for external tubes – regular cleaning can prevent blockages and is often cost-effective in the long run. For insurance purposes, document your chimney cleaning process with photos. Additionally, remember to maintain proper ventilation in your home.

2. Water Pipes

Uninsulated or exposed water pipes are at risk of freezing and bursting. Whether they’re outside or in your attic, consider insulating them or even draining them if possible. This simple step can prevent significant water damage.

3. Snow on the Roof

Snow accumulation on roofs can put a strain on the structure. This is particularly concerning for garden sheds and garages, where the roofing might not be as robust as your main residence. If accessible, removing snow can alleviate the pressure on these structures and prevent potential collapse.

4. Lock Maintenance

Greasing your locks with lubricant or vaseline can prevent them from freezing. If a lock is already frozen, avoid forcing it open. Instead, try defrosting it with a hairdryer or rubbing alcohol. Another method is to gently heat the key with a lighter and softly insert it into the lock.

5. Protecting Frost-Sensitive Items

Be mindful of items that are sensitive to freezing temperatures, such as pressure washers, air compressors, juice or wine bottles, and other utensils. Store them in a place where they won’t freeze. Also, consider the batteries – cold temperatures can significantly affect their performance. Keep them indoors and ensure they are not completely discharged.

Additional Tips for Home Protection

In addition to these measures, there are other ways to fortify your home against the cold. Check and seal any drafts around doors and windows to keep the heat in and the cold out. If you have outdoor plants, cover them or bring them inside to protect them from frost. Also, have a contingency plan for power outages, which includes having a supply of candles, matches, and blankets.

Regularly inspect your home for signs of frost damage, such as cracks or leaks. Early detection can prevent small problems from escalating into major repairs.

Conclusion

Preparing your home for a cold wave is essential for maintaining its integrity and ensuring your comfort and safety. By taking these precautions, you can mitigate the risks posed by extreme weather conditions and keep your home warm and damage-free. Remember, prevention is always better than cure, especially when it comes to safeguarding your home against the harsh winter elements.

19/01/2024
Eco-friendly facade cladding: selecting the best wood

The trend towards eco-friendly facade cladding, particularly with a preference for minimally processed and untreated wood, continues to grow. Wood, in all its forms, is reclaiming its rightful place in construction, becoming increasingly popular due to its exceptional durability and aesthetic qualities. Choosing naturally resistant wood species ensures not only the longevity of your facade’s appearance but also an environmentally responsible approach without resorting to harmful chemical treatments.

Boris V

Choosing the right wood

The selection of wood for facade cladding is crucial for both durability and aesthetics. Here are some popular options:

Douglas fir

Douglas fir is often a starting point for wooden cladding due to its durability, with an estimated lifespan of 50 to 100 years. However, it’s important to note that Douglas fir can be knotty, which might affect its longevity. Although it starts off with a pinkish hue, its aging process is less uniform compared to other softwoods and is prone to splitting during wet and dry cycles.

Larch

Larch offers a great balance of aesthetics and resilience. Its uniform aging process results in an attractive silver-grey patina without any significant deterioration. The main drawback of larch is the potential for resin pockets that can leak onto the facade. Selecting the right boards and avoiding pieces close to the tree’s heart can mitigate this issue.

Red cedar

Regarded as a premium option, red cedar is known for its uniform aging, stability, and lack of knots, ensuring a perfect seal. However, as red cedar is sourced from North American forests, its transportation to Europe increases its carbon footprint.

Maintenance of wood cladding

Wood cladding will inevitably undergo changes in color due to environmental factors. Regular maintenance using water-based saturators can be effective but is often costly and challenging for high facades. Natural oils like linseed oil are not recommended for outdoor use as they can rot, leading to unattractive black spots.

Painting options

Some homeowners opt for painting their wood cladding to maintain color stability. Using natural pigments and iron oxide-based paints can give your cladding a warm hue, but it’s best applied on lower facades for easy touch-ups.

Burnt wood cladding

Burnt wood cladding is a 100% natural method to enhance the durability of wood. The charring process creates a protective layer that makes the wood resistant to insects and decay. This technique also reduces the wood’s sensitivity to moisture and extends its lifespan.

In conclusion, selecting the right wood for your facade cladding involves considering factors like durability, aesthetics, maintenance, and environmental impact. While each wood type has its advantages and drawbacks, choosing responsibly sourced wood and following proper maintenance practices can ensure your facade remains beautiful and sustainable for years to come.

18/01/2024
3 styles for the perfect kitchen: rustic, vibrant, or minimalist

Designing the perfect kitchen is about more than just functionality; it’s about creating a space that reflects your personal style and meets your culinary needs. In this guide, we’ll explore three popular kitchen styles – rustic, vibrant, and minimalist – and provide tips for bringing each to life in your home.

1. Rustic style

The rustic kitchen design is both timeless and cozy, reminiscent of countryside living and the nostalgic cooking of our grandmothers. To achieve this look, incorporating natural materials like stone, wood, terracotta, and wicker is essential. Floral elements and earthy tones are key to this design.

For a simple yet effective rustic kitchen, consider a wooden worktop with an integrated sink and matching storage spaces. Large antique furniture pieces can cover wall surfaces, while a small hutch for displaying vintage plates and cups adds a charming touch.

Mixing styles, such as combining wood with metal, can give your kitchen a unique flea market feel. If you’re on a budget, consider crafting your table from wooden pallets or using trestles. Surround it with a mix of mismatched chairs in different colors and materials for a chic look. Thrifting is always a great option for finding unexpected treasures!

2. Vibrant style

A colorful, appetizing, and warm kitchen is a joy for its inhabitants. A surprising yet successful combination of pink and black sets the tone. Lemon yellow or cherry red: opting for a contrasting paint strip in the kitchen can invigorate the entire space. Even the floor can be colorful! Special paints are available to revamp an old wooden floor or tiles, giving them a vibrant new life.

Red, the color of indulgence, evokes pleasure and appetite. As pleasing to the eyes as it is to the taste buds, this color can extend beyond paint. For example, choose a set of multicolored cabinets available from various furniture stores.

Adding a bold wallpaper, like a graphic design or trompe l’oeil effect, can create a unique ambiance in your kitchen. Consider using decorative stickers for an affordable way to decorate your cabinets. If you have a large central island, transform its center into a mini herb garden.

3. Minimalist style

Another trend is the sleek and minimalist kitchen, focusing on large surfaces, often with a central island and open architecture similar to American-style kitchens.

Prioritize large, sliding arrangements and handleless furniture for a discreet look. Large drawers are also welcome for easy storage of accessories and dishes. Since minimalist kitchens aim to be clear, neat, and bright, using glass furniture and accessories is a good idea. If a full glass kitchen is too expensive, adding touches with candy jars and visible jars on shelves can have a beautiful effect.

When it comes to color, white is the first shade that comes to mind. Timeless and classic, off-white fits perfectly in a minimalist kitchen. With a slightly rustic feel, this paint creates a natural, family-friendly, and warm kitchen atmosphere. It can be mixed with different shades of white to maintain the kitchen’s brightness.

18/01/2024
Navigating disputes over common charges in your building

Owning an apartment in a building involves contributing to common expenses, but what happens when you disagree with how these charges are distributed? Understanding your rights and the processes involved can help you navigate this situation effectively.

Andrea Piacquadio

Understanding your responsibilities

As a homeowner, you have a responsibility to contribute to the common charges of your building. These charges cover expenses related to shared spaces and facilities. It’s important to know where you stand and what you can do if you feel the allocation of these charges is unfair.

Providing information

You are obliged to provide your contractor with information about any known cables and pipes. Failure to do so, or providing incorrect information, could make you liable for any damages caused during the work.

Contractor’s obligations

Your contractor should gather as much information as possible about nearby pipelines, especially if the work involves excavation. They must also exercise caution during the project, especially in areas where pipelines are expected. If a contractor starts work recklessly with heavy machinery and damages occur, you may have a case to demand compensation.

Understanding the contract

Your contractor might include a clause in the contract stating that the client (you) must indicate the location of cables and pipes, and if they damage unknown lines, the responsibility falls on you. Depending on the wording and scope of this clause, you might be bound by it.

Addressing disputes in general meetings

If you disagree with the allocation of common charges, you can request a change at the general assembly of co-owners. This requires adding your proposal to the agenda, which you can do by asking the syndicate to make the necessary arrangements.

Seeking a majority

Your proposal will need to be adopted by the general assembly, requiring a 4/5th majority. Simply obtaining a simple majority is not enough for such changes.

Resorting to legal action

If the general assembly refuses to adjust the allocation of charges, you can take your case to a justice of the peace. For this step, you’ll need to provide proof that the current allocation is to your personal disadvantage, incorrect, or has become incorrect due to changes in the building.

In conclusion, dealing with disputes over common charges in your building requires a clear understanding of your rights and responsibilities, as well as effective communication with your co-owners and the building management. If needed, legal avenues are available to ensure a fair resolution.

17/01/2024
Switching from a bathtub to a walk-in shower: key considerations

The kitchen and bathroom are often the focal points of home renovations. Increasingly, homeowners are swapping out bathtubs for the more contemporary and stylish walk-in shower, especially the popular ‘Italian style’ shower. This article explores what you need to know before making such a change.

Max Rahubovskiy

Understanding the walk-in shower

A walk-in shower is a step-free shower area, easily accessible and increasingly popular in contemporary bathroom designs. Originally intended for senior citizens due to their easy access, these showers have now become a fashionable choice for any modern bathroom.

Is it a good idea?

Whether switching to a walk-in shower is a good idea depends on your specific needs and the nature of your property. For rental properties, a bathtub might still be a significant attraction, especially for families with young children. However, this is less of a concern for smaller apartments and studios. For homeowners considering future sale prospects, a bathtub could add value. If planning a second bathroom, having both options – a bathtub and a walk-in shower – could be ideal.

Feasibility and installation challenges

Installing a walk-in shower isn’t always straightforward. It may require raising the bathroom floor to accommodate plumbing or involve excavation. This can be particularly challenging in upper-floor apartments or where ceiling height is already limited. Consider window modifications as well, especially to maintain privacy and prevent water infiltration.

Potential drawbacks

One of the main concerns with a walk-in shower is water tightness. The absence of a threshold can lead to sealing issues if not installed correctly. Ensure professional installation for a secure, leak-free shower. In smaller bathrooms, walk-in showers can potentially reduce usable space due to the need for a gradient for water drainage.

Maintenance and upkeep

While aesthetically appealing, walk-in showers might require more maintenance. Regular cleaning is essential to prevent mold and soap residue buildup.

Budget considerations

Transforming a bathtub to a walk-in shower typically costs between 2,000 and 6,000 euros, depending on the level of finish and the extent of the required renovations.

Choosing the right materials

Selecting the right materials for your walk-in shower is crucial for achieving the desired look. Options include ceramic tiles, mosaic, natural stone, or polished concrete. Each material offers unique aesthetic and functional benefits, so choose one that aligns with your bathroom’s overall design.

In summary, converting a bathtub to a walk-in shower involves careful planning and consideration of various factors, including your personal needs, property type, installation feasibility, and budget. With thoughtful choices and professional installation, you can enjoy the benefits of a stylish and functional walk-in shower in your bathroom.

17/01/2024
Snowy sidewalks: risks and responsibilities for homeowners

Winter brings a picturesque blanket of snow, but it also comes with certain responsibilities, especially for homeowners and occupants. A critical yet often overlooked duty is clearing the snow from the sidewalks in front of one’s residence. Failing to do so can lead to a range of consequences, from financial penalties to legal liabilities.

Understanding the Legal Obligations

As a homeowner or occupant, whether of a house or an apartment, it is your legal obligation to ensure that the sidewalk in front of your property is free from snow and ice. This responsibility is not just about maintaining a clean and safe path for pedestrians; it’s a legal requirement that, if neglected, can have significant repercussions.

Facing Fines for Negligence

One of the immediate risks of not clearing your sidewalk is the possibility of incurring a fine. In some cases, fines can reach up to 350 euros. While it’s true that fines are not commonly imposed for this offense, it’s important not to be complacent. The threat of a fine serves as a reminder of the seriousness with which local authorities regard this responsibility.

The Risk of Liability for Accidents

More critical than the risk of a fine is the potential legal liability if someone were to slip and fall on your uncleared sidewalk. In such cases, the injured party could argue that your failure to clear the snow constitutes negligence. Consequently, you could be held liable for any damages they suffer, such as medical expenses, disability, or damage to personal items like clothing and watches.

Insurance Coverage and Limitations

Typically, if someone claims to have sustained an injury due to a fall on your snowy sidewalk, your family insurance policy would cover the incident. However, it’s crucial to be aware that you may still be responsible for a deductible. Furthermore, relying solely on insurance isn’t a foolproof strategy. If it’s determined that you were grossly negligent, there might be limitations to the coverage, leaving you exposed to significant financial burdens.

Proactive Measures for Homeowners

The best course of action is to be proactive about snow removal. Regularly checking the weather forecast during the winter months and having the necessary tools on hand, such as a sturdy shovel and environmentally friendly ice melt, can help you stay prepared. In addition to clearing snow, it’s also important to address any icy patches that could pose a slipping hazard.

Community Engagement and Assistance

In many communities, neighbors help each other with snow removal, especially when it comes to assisting the elderly or those physically unable to clear their sidewalks. Participating in such communal efforts not only ensures compliance with local regulations but also fosters a sense of community spirit and cooperation.

Conclusion

Clearing snow from sidewalks is more than a courtesy; it’s a legal obligation with potential financial and legal implications. By understanding these risks and taking proactive measures to ensure your sidewalks are safe, you protect yourself, your neighbors, and passersby from the hazards of winter. It’s a small but significant step toward creating a safer and more responsible community during the snowy season.

16/01/2024
Fake alarms: a viable deterrent against burglars?

In the realm of home security, the use of fake alarms has become a topic of considerable debate. These devices, designed to mimic the appearance of a real security system without actual surveillance or detection capabilities, have both supporters and critics. This article examines the role of fake alarms in deterring burglars and whether they should be a part of your home security strategy.

Understanding Fake Alarms
Fake alarms, also known as dummy alarms, are designed to create the illusion of security. They often resemble real alarm systems in appearance, featuring components like control panels and motion detectors. The idea is to exploit the psychology of potential burglars, making them believe the property is protected and thus discouraging them from attempting a break-in.
The Deterrent Effect of Fake Alarms
Proponents of fake alarms argue that they can effectively deter burglaries. The presence of any security system, real or fake, might make a burglar think twice before targeting a property. This is especially true for opportunistic thieves who are looking for an easy target and may not be skilled enough to distinguish a fake alarm from a real one.
Limitations of Fake Alarms
Critics, however, point out that experienced burglars can often identify a fake alarm system. A poorly designed or inadequately detailed fake alarm is unlikely to fool seasoned criminals. Furthermore, determined burglars may test the system to see if it’s real and operational, potentially exposing the bluff.
Combining Fake and Real Security Measures
While fake alarms can provide a degree of deterrence, they should not be relied upon as a standalone security solution. It’s advisable to combine a dummy alarm with other effective security measures. This multi-layered approach can include video surveillance systems, high-quality locks, and exterior lighting to enhance overall property security. An external dummy module paired with a real, functioning alarm inside can be an effective strategy.
Video Surveillance: A Reliable Security Companion
Video surveillance is a proven deterrent against burglaries. Modern surveillance systems offer features like remote monitoring, motion detection, and night vision, making them a formidable tool in your security arsenal. Coupled with a dummy alarm, they can create a comprehensive security facade that is hard for burglars to ignore.
Quality Locks: Your First Line of Defense
High-quality locks are essential for home security. Investing in strong, tamper-resistant locks for doors and windows significantly reduces the risk of break-ins. They can be an effective complement to a dummy alarm, providing a physical barrier to entry.
Exterior Lighting: Illuminating Potential Threats
Good exterior lighting can deter burglars by eliminating dark spots where they could hide. Motion-activated lights, in particular, can startle intruders and signal to neighbors that something unusual is happening.
Conclusion
In conclusion, while fake alarms can act as a deterrent to some extent, they are not a foolproof security measure. The best approach to home security is a combination of real and dummy systems, along with other physical and electronic deterrents. This holistic approach can provide a higher level of security, making your property a less attractive target for burglars.

16/01/2024
Maximizing space in a small bathroom: essential tips

Creating a comfortable and functional bathroom in a limited space can be challenging, but with the right approach, even the smallest bathrooms can become efficient and welcoming. This article provides essential tips to maximize space and enhance the functionality of a small bathroom.

Christa Grover

Making the most of every visit

A bathroom should be a place of comfort and relaxation, regardless of its size. It’s important to make the space feel inviting and ensure it’s practical with plenty of storage. Even in an area as small as 4 or 5 square meters, you can fit a sink, shower, and adequate storage without cluttering the room. Every square centimeter counts, so plan carefully to optimize the space.

Practical features for functionality

Start by installing multi-functional hooks and one or more towel bars on the wall. This allows for easy storage of robes, towels, and washcloths. Consider a mirror with an integrated shelf to hold toothbrushes, toothpaste, and cosmetics, keeping the sink area clear. For the sink, opt for either a vanity with an integrated basin or a countertop model, ensuring the bowl is wide enough for comfort.

Choosing the right furniture

When selecting bathroom furniture, think about ease of cleaning. Wall-mounted units are preferable as they facilitate floor cleaning and offer ample storage. Opt for compartmentalized storage with drawers and shelves for cosmetics and bath linens. While a depth of 40 cm is recommended, you can adjust the width based on the room’s layout. Sliding doors are less obtrusive than swinging ones, and compact handles are less likely to cause inconvenience. A radiator that doubles as a towel warmer can save space and optimize towel drying.

Bathtub or shower?

If you prefer a bathtub, don’t despair if space is tight. Compact models (as short as 105 cm) and corner bathtubs are great space-saving options. Under sloped ceilings, a bathtub might fit better than a shower. Showers offer flexibility in installation, with walk-in designs, frameless models, or integrated drainage in the floor for a seamless look. Extending the bathroom floor into the shower area without a threshold can visually expand the space.

Smart choices for small bathrooms

In a small bathroom, every decision counts. Don’t hesitate to innovate and create a space that’s as enjoyable and functional as a larger bathroom. With careful planning and smart design choices, your small bathroom can become an efficient and pleasant space.

15/01/2024