Is Renting Actually Cheaper Than Buying Right Now in Brussels?

For the first time in years, tenants hunting for apartments around Flagey or Dansaert are paying less month-to-month than many first-time buyers, according to analysis reviewed by The Daily Brussels this week. The cost gap has widened even further since last summer, after another round of interest rate hikes drove monthly repayments for new homeowners to record highs.

This shift matters because the ‘buy vs rent’ calculation is changing for thousands of Brussels residents. Families eyeing a small maisonette in Schaerbeek or professionals considering a studio near Place Sainte-Catherine are finding that the economics look very different from the pre-pandemic era. The reality is biting: for now, at least, buying appears to demand larger budgets and deeper financial reserves than renting in the same areas.

Where the Affordability Gap Hits Home

One key reason is simple: mortgage costs have soared. BNP Paribas Fortis, Belgium’s biggest lender, is currently offering new 20-year fixed loans with interest rates hovering around 4.2% – double what was available in 2022. Taking a typical 70-square-metre apartment in Ixelles, for example: median asking prices in March hovered at €415,000, figures from Immoweb show. To purchase with a 10% deposit, a buyer faces monthly repayments of roughly €2,080 before taxes and fees. Renters, meanwhile, are paying an average of €1,250–1,400 for similar homes in the same neighbourhoods, according to agency ERA.

The divergence isn’t limited to trendy postcodes. In the evolving Marolles district, a two-bedroom flat fetches around €1,100 per month in rent, versus purchase prices above €360,000. Those repayments run up to €1,800–1,950 monthly with current rates. For most young households, the upfront down payment and transaction costs—almost 15% when registration duties and notary fees are included—represent a steep entry barrier.

What the Numbers Say

Data from Statbel, the Belgian statistics office, shows that Brussels residential rents have risen 4.3% over the past year, but asking sale prices jumped just over 6% in the same period. The National Bank of Belgium recently emphasized that while prices have cooled slightly since their 2025 peak, tighter lending rules and lofty rates keep monthly buyer costs at all-time highs. As of June 2026, fewer than three in ten Brussels homes sold went to first-time buyers, down from almost half in 2019.

"Realistically, most tenants are better off renting in the short to medium term," said a property adviser at CIB Vlaanderen, an industry group. Even housing support schemes like Citydev’s affordable purchase programme, targeting young buyers on moderate incomes in Anderlecht and Laeken, report oversubscription and tight eligibility caps for 2026. The gulf between rental and purchase affordability shows little sign of narrowing this year, particularly if the Central Bank keeps interest rates elevated.

For Brussels residents weighing their next move, experts recommend running the numbers carefully—don’t just compare advertised prices. Factor in all recurring costs (service charges, property tax, maintenance) and set aside at least 13–15% of the purchase price for up-front fees. Supply is slowly improving thanks to new developments along Boulevard Anspach and at Tour & Taxis, but as long as borrowing remains expensive, renting is likely to remain the pragmatic, and in most cases clearly cheaper, choice well into 2027.