Buying a home in Flanders can be a significant investment. However, the costs vary significantly depending on the region you're looking for. Where can you find the most affordable homes in Flanders, and how much will you save on your mortgage compared to the most expensive provinces?
Currently, the average purchase price of a house in Flanders is around 375.053 euroThat's a whopping €72.144 more than the average sales price of €302.909 five years ago. However, there are significant price differences between provinces, as shown by the Notaris.be Real Estate Barometer.
Let's start with the most expensive province: Flemish Brabant. Here, a house changes hands for an average of €429.793. Based on the current average mortgage rate of 3,34% for a fixed term of 20 years (based on rates shared by visitors to Mijnvergelijker.be over the past thirty days), and assuming you borrow 90% of the purchase price, your monthly repayments are €2.201,83. Over the entire term of the mortgage, loan the interest amounts to EUR 141.626,66.
In Antwerp, the second-most expensive province, a house currently sells for an average of €405.616. If you borrow 90% of the purchase price at 3,34% for 20 years, your monthly repayment will be €2.077,98. The total interest over the loan term will then be €133.659,79.
In East Flanders, the third most expensive province, you pay an average of €360.425 for a house. If you borrow 90% of the purchase price at 3,34% for 20 years, your monthly repayment will be €1.846,46. The total interest over the loan term will then be €118.768,31.
Limburg is the second cheapest province, with an average house price of €338.609. If you borrow 90% of the purchase price at 3,34% for 20 years, your monthly repayment will be €1.734,70. The total interest over the loan term will then be €111.579,44.
On average, you pay the least for a house in West Flanders: €331.353. If you borrow 90% of the purchase price at 3,34% for 20 years, your monthly repayment will be €1.697,53. The total interest over the loan term will then be €109.188,42. This is a significant savings compared to a loan for an average house in Flemish Brabant.
Just like houses, apartments are also the most expensive on average in Flemish Brabant. However, the price trend varies. After Flemish Brabant, West Flanders, East Flanders, Antwerp, and Limburg follow. In Antwerp, it is therefore on average cheaper to buy an apartment than a house.
Question 1: In which Flemish province are houses on average the cheapest?
Houses are on average cheapest in West Flanders, with an average sales price of 331.353 euros.
Question 2: What is the average mortgage interest rate in Flanders?
The average mortgage rate in Flanders is currently 3,34% for a fixed period of 20 years.
Question 3: Is it on average cheaper to buy a house or an apartment in Antwerp?
On average, it is cheaper to buy an apartment in Antwerp than a house.