The average price of new-build apartments in Brussels in 2011 was €2,670 per sq m.
There has been an increase in demand from private investors, who have bought residential property as a refuge from the highly volatile financial markets.
The number of residential building permits granted remained relatively stable during 2011, but the total amount of square metres for which permits were granted decreased by 12% compared with 2010, reflecting a reduced average lot size per dwelling.
Due to rising land prices, there has been a trend for developers to construct higher buildings with smaller units.
The reconversion of office buildings into residential property is a feasible option for no more than 20% of the vacant office stock in Brussels.
Source : Knight Frank