Belgian real estate worth thrice the country’s GDP Author: MB

Tue 20/03/2018 - 16:22 MB According to calculations made by the National Accounts Institute (INR), the total value of real estate owned by private citizens in Belgium is around 1,412 billion euro. This is 334% of our country’s GDP. The figure is also considerably higher than the total net financial assets of private citizens in Belgium that are currently estimated to be 1,066 billion euro.

The National Accounts Institute says that this is the first time it has made calculations based on the value of plots of land in the period between 2005 and 2016.

Real estate assets in Belgium are made up of 60% land and 40% buildings. The vast majority (74.2%) of the real estate assets is made up of residential properties. 6.3% of is given over to other buildings such as shops, offices and factories. 5% of the assets consist of plots that can be used as building plots, 4.5% is agricultural land and the rest (5.6%) fall under the category miscellaneous.

The total value of land in private hands in Belgium is estimated to be 863 billion euro. This is around 70% more what it was worth in 2005.

The value of the buildings owned by private citzens is around 549 billion euro. Almost all (97%) of this is made up of residential properties. In 2005 the total value of buildings owned by private citizens was 369.2 billion euro.