Homes in flood-prone areas in Flanders command higher prices
Homes in flood-prone areas in Flanders are, on average, 12 per cent more expensive than properties in safer zones, according to analysis by real estate platforms Zimmo and StadimData.
The study, which examined asking prices between January 2017 and October 2024, highlights regional variations and raises questions about the factors driving these price trends.
In absolute terms, Flemish Brabant shows the most considerable price difference, with homes in flood-risk areas costing an average of 72,000 euros more than their counterparts in non-risk zones. In Antwerp, the difference is approximately 53,000 euros, while in Limburg it is less than 25,000 euros.
Despite these findings, Bart Van Opstal of Notaris.be suggests the price disparity does not indicate that buyers disregard flood risks. "Other factors, such as an attractive location, weigh more heavily," he says. While floods can impact property values, Van Opstal says this effect is often temporary.
The situation in Wallonia presents a contrasting trend, primarily influenced by the severe floods of 2021. There, properties in flood-prone areas are, on average, 10 to 20 per cent cheaper than those in safer locations. The exception is Hainaut, where flood-risk properties fetch higher prices.
#FlandersNewsService | Flooding in West Flanders, November 2023 © PHOTO NORBERT VOSKENS/ ZUMA PRESS WIRE
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