You are currently viewing “We don’t expect a major real estate crisis, but rather a slight correction”: is this the ideal time to buy a home?

“We don’t expect a major real estate crisis, but rather a slight correction”: is this the ideal time to buy a home?

  • Post category:Economy News
  • Reading time:6 mins read

Guide-savings.beAccording to the Real Estate Barometer of the Federation of Notaries (Fednot), the number of homes sold during the first half of this year fell by 2% compared to the same period in 2021. What does this slight cooling mean? of the real estate market? Are there fewer offers and visits? Is it the perfect time to buy a home? Below, gives you some advice.

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“Currently, there are fewer offers than during the extreme period of the last 2 years,” according to Johan Krijgsman, CEO of the real estate group ERA. “However, the most coveted homes still sell very quickly, at or above asking price. If you really want to buy a certain home and you know that several people are interested, you still have to decide quickly.”

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Demand exceeds supply

Rate hikes can put downward pressure on real estate prices. For the moment, this does not yet seem to be the case, especially not in urban areas, where demand still clearly exceeds supply. We are not expecting a major real estate crisis, but rather a slight correction.

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ERA admits that there are fewer visits during the summer months. Johan Krijgsman: “On the one hand, because many transactions have taken place in recent years. It is therefore logical that there are fewer potential buyers at a certain time. On the other hand, summer is traditionally a less busy time, especially now that we can go on holiday for the first time in a long time and there are all kinds of events.

Throughout the year

According to ERA, there really aren’t any periods when the sale of homes stops. “The population is constantly changing; that’s why people sell, buy, let, rent or invest throughout the year,” according to Johan Krijgsman. “There are a few months of the year when the number of transactions is slightly lower, but if we analyze this over several years, the effect is negligible. We can therefore conclude that there is enough movement throughout the year.”

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Unable to determine the best time to buy

Due to the current pressure on the real estate market, it is impossible to determine the best time to make your purchase. Waiting or pausing your research assuming prices drop is definitely not a good idea. Over the past 40 years, there has been virtually no price decline in our real estate market. In previous decades, house prices rose almost continuously in Belgium. Prices fell during only 2 periods: during the first half of the 80s and during the financial crisis of 2008 (but this last fall was much shorter). So there is no need to wait!

Johan Krijgsman adds the following: “On the one hand, summer is the ideal time for buyers who are looking for a home with a terrace and a garden, to admire the full potential. On the other hand, the rush in the market is sometimes a little less considerable, after which you can take a little more time to think and you are a little less under pressure.


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