News Land market
Belgian land market cools and stabilizes
In the first half of 2022, land prices in Belgium stabilized after years of sharp price increases. In Wallonia, the price level has even decreased slightly. There are, however, differences between provinces. The price of agricultural land has increased, especially in Belgian Limburg.
In the first six months of this year, the average price of a hectare of agricultural land in Belgium increased by 0,5%, according to the Agricultural Barometer of the Federation of Notaries (Fednot). In Flanders, prices have increased by 1,5%. A decrease of 1,4% is visible in Wallonia. One hectare of agricultural land in Belgium now costs €53.193. According to notaris.be the land market cools due to economic uncertainty. Especially after the war in Ukraine.
Walloon land cheaper
The average price for Flanders is €63.105 per hectare. Agricultural land is considerably cheaper in Wallonia at €37.011 per hectare. In some provinces, those prices are even below this level, such as in Liège and Hainaut. Nevertheless, prices have also risen in the French-speaking part in recent years, by 22,5% over a period of five years. For Flanders this is 23,9%. The difference between the two parts of the country has grown in recent years, from over €20.000 to €26.000.
The most expensive Flemish agricultural land can be found in the provinces of West Flanders (€77.318) and Antwerp (€67.372). In the first province, the level still rose by almost 8% this year, while in Antwerp a decrease of 5,4% is visible. In percentage terms, Limburg is the biggest riser with almost 12%. Over a period of five years, the land price has also risen the fastest there, to €49.176 per hectare.
Big differences
In Wallonia you will find the most expensive agricultural land in the province of Luxembourg (€39.396), followed by Walloon Brabant (€39.178) and Namur (€38.859). In Luxembourg, the price has risen the fastest over the last five years, at over 36%. According to Bart van Opstal of Notaris.be, the differences per region are large. The differences can also be considerable by municipality. "Unleased land is worth much more than leased land for which the lease contract still runs for a long time."
Niels van der Boom
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