Coronamaatregelen to do real estate transactions with a third party to decrease

The coronacrisis have a significant impact on the number of real estate transactions. This is evident from the vastgoedbarometer of notarisfederatie Fednot. Since, in our country, the restrictive measures are in force, it’s going to be about a third less.

In the period from 1 January up to and including the 29th march to happen in Belgium at 7.9 per cent, and in Flanders, even a 10 percent reduction in real estate transactions compared to the same period in the previous year. The reason for the reduction seem to be especially restrictive measures taken by the national security council is.

as Of the 1st of January to the 17th of march, the decline in the number of transactions only slightly, by 0.4 per cent in Belgium, 3.3 per cent in the region. On Saturday the 14th of march, the first restrictive measures taken due to the corona virus, and the national security council decided to set up the action from the 18th of march, verstrengen into a pseudo-lockdown. This had the consequence that the number of real estate transactions the week of the 16th of march, up 27.1 percent declined compared with the same period of time, in 2019. The following week, which is on the 23rd of march, the names of the transactions, or 39.3 percent of the time.

expected

the number of real estate transactions, in Flanders, would go down in the first quarter of 2020 and it is to be expected. “In the last few months of 2019, was in Flanders, there is a severe, but temporary vastgoedpiek, for the sake of the forthcoming abolition of the woonbonus” said the notary, Bart of the real estate. “With the decline of 3.3 per cent, seemed to be rather a logical correction in the market.”

But what happened in the last few weeks, as a result of the coronacrisis is done, it is on the basis of Property“, of a quite different caliber”. “In comparison with the first quarter of 2019, the decline in the number of transactions, in Flanders, a 10-percent increase compared to the fourth quarter of 2019 at the latest showed a drop of 21.2 percent,” he said. “Of course, it is only logical that the people who are now barely involved with the purchase of a home. They may have other concerns.”

– Particularly in Antwerp and East-Flanders

The number of property transactions rose in the first quarter of 2020 in all of the provinces. The decline was the highest in Antwerp (-14,5% compared to the first quarter of 2019) and East-Flanders (-13 per cent). West-Flanders, belgium (-4,9 per cent), was in the best position, due to the real estate market in the coastal cities.

What is the effect of the coronacrisis in the long term, it will have to be on the real estate market, it is difficult to assess. “During the financial crisis, we have seen that the number of transactions for a period of one quarter, sharply lower. After that, the recovery in the market in Belgium and, in contrast to the other countries very, very quickly. There is a possibility that the real estate market, are now just as resilient, it shows,” says van Orman. “However, it is also not possible to rule out that the effects of the coronacrisis will be greater, in terms of activity, but also in terms of the year.”

the Abolition woonbonus does, prices will not fall,

in the Meantime, the removal of the woonbonus house prices won’t go down. During the first quarter, the average price of both houses and apartments, in Flanders, in fact.

the woonbonus, for those who have a mortgage loan for their first property during the term of the loan, will enjoy a tax reduction. The Flemish government has decided, however, to get the tax credit from this year to purchase new loans. According to the government, it was not a simple interests, but the goal was to make the real estate prices to decline. In addition, it reduced them to you in exchange for the registration fee on the purchase of a home by 7 to 6 per cent.

Rush:

The announcement, which led at the end of last year and was in a rush on the real estate market. Thus, the decline in the number of real estate transactions at the beginning of this year. Between the 1st January and the 29th of march, a decrease of 10 per cent in Flanders, and have been playing it for a large part of the coronamaatregelen. In the period from January 1 to march 17, a decrease of 3.3 per cent. “Such a decrease of 3.3 percent, it seemed, rather, a logic correction in the market,” said the notary, Bart of the real estate.

However, the prices are following the downward trend, for the moment. During the three-month period, the average price of a house in Flanders, 291.358 of the euro. This is a 1.4 percent increase over the annual average by 2019. In the period of 2015-2020, the average price of a house, as 13.2 percent of the time. The apartments were in the first quarter, for an average of 245.355 euros, the owner, was 5.5 per cent higher than the average level of the previous year. “This was the largest increase in the last ten years,” says will.

Especially increase in Antwerpen

Some of the apartments, the increase in all the provinces of the netherlands. The largest increase was recorded in Antwerp: +7.4%, to an average of 231.224 of the euro. Flanders had the smallest growth rate: +1.2% to 237.835 of the euro.

In most of the houses are quite different. In Antwerp, to 315.237 euros, +3.6%), Illinois (247.007 euros, up 2.3%) and Flemish Brabant (334.893 the euro, +1%). prices went up in East and West Flanders were reduced to the average, the prices were very slightly by 0.3 per cent and 0.6 per cent.

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