Is Renting Actually Cheaper Than Buying Right Now in Brussels?

Renters in Brussels are now paying less out of pocket each month than first-time buyers facing today’s high mortgage rates and soaring property prices, according to new figures compiled by local estate agencies and the Belgian financial regulator.

This shift in affordability comes at a time when the Brussels Capital Region is feeling the effects of inflation, stagnant wage growth, and a housing market facing chronic supply shortages. Locals looking to get onto the property ladder are squeezed by higher monthly payments, while international investors and new arrivals continue to snap up central apartments as buy-to-let investments.

Ixelles and Schaarbeek: Contrasting Realities

In traditionally sought-after neighbourhoods like Ixelles, average rents for a one-bedroom flat are now around €1,200 a month, according to ImmoWeb listings as of June 2026. In Schaarbeek, rents for similar-sized properties hover closer to €950. Yet when would-be buyers try to purchase an equivalent apartment in either area, affordability takes a hit—especially if they need a mortgage.

Take a 60m² flat on Rue du Bailli: recent sales data from Notaire.be puts the average purchase price at €340,000. At the current average fixed mortgage rate of 5.2%, a first-time buyer with a standard 10% down payment will face monthly repayments near €1,670, factoring in required mortgage insurance. With additional annual costs for property taxes and co-ownership fees, buying now adds several hundred euros to the typical monthly budget compared to renting the same flat.

Data Points to a Growing Gap

The National Bank of Belgium's June 2026 analysis shows average advertised monthly rent for an apartment in greater Brussels has risen by 7% year-on-year—but the average mortgage payment for new buyers rose 18% in the same period, due to both higher rates and increased property values. The result: for the first time in a decade, a majority of Brussels neighbourhoods now see more affordable monthly costs for renters than for buyers at current market terms. Even high-income districts like Uccle and European Quarter are affected, with buying costs outstripping rent by up to 30% per month for new entrants to the market.

Several local initiatives are attempting to address this imbalance. The CityDev Brussels affordable housing programme has announced three new developments in Laeken, with the aim of offering below-market purchase prices to eligible residents. Meanwhile, community-led cooperative housing projects in Forest and Saint-Gilles are seeking to keep homeownership within reach for lower-income families, though waiting lists remain long.

Prospective buyers will be watching closely for any cooling in mortgage rates or new government intervention to address the affordability crunch. In the meantime, local brokers at Engel & Völkers and Trevi Group are advising budget-conscious clients to consider renting for another year—particularly for those without significant savings for a deposit. As one local property manager in Etterbeek said, "There’s simply no financial case right now for most newcomers to buy unless they have help from family."

For now, Brussels renters—especially those in dense neighbourhoods near the EU institutions or around Place Flagey—can enjoy a rare moment of relative savings compared to their mortgage-paying neighbours.