Belgian rental market in 2026: trends, figures and outlook
Analysis of the Belgian rental market in 2026: supply and demand, vacancy rates, new construction, demographics and emerging trends such as co-living.
367days ago
!What changes
- 1The Belgian rental stock reaches 1.85 million properties, up 1.2% year-on-year
- 2The average vacancy rate is 3.8% (declining) -- a sign of market tension
- 3New rental construction rose by 6% in 2025, especially in Wallonia
- 4Co-living and shared housing account for 8% of new leases in Brussels
- 5Rental demand from 25-35 year olds is up 5% driven by remote work and mobility
The Belgian rental market in figures (2026)
The Belgian rental market continues its moderate growth. Here are the key figures for the first half of 2026:
| Indicator | 2026 value | Change vs 2025 |
|---|---|---|
| Total rental stock | 1.85 million properties | +1.2% |
| Share of tenant households | 34% | Stable |
| Average rent (2 bed.) | EUR 785/month | +2.1% |
| Average vacancy rate | 3.8% | -0.3 pp |
| New leases signed | ~320,000 | +4% |
| Average lease duration | 4.2 years | Stable |
The market is structurally tight: demand is growing faster than supply, driven by population growth (+0.6% per year) and deferred purchases (high prices, strict lending conditions).
Belgium has a lower proportion of tenants than France (40%) or Germany (55%), but the trend is upward.
Supply and demand: a persistent imbalance
Demand side:
- The Belgian population is growing by 0.6% per year (positive net immigration)
- 25-35 year olds are renting longer: the average age of first purchase has risen from 29 to 32
- Remote work favours mobility (shorter leases, inter-regional moves)
- International students (+8% in 2025) are increasing demand in university cities
Supply side:
- New rental construction is rising (+6%) but not keeping pace with demand
- EPC renovations are temporarily removing properties from the market (3-6 months of works)
- Stricter regulations are discouraging some small landlords
The imbalance is most pronounced in Brussels (62% tenants, insufficient supply) and in university cities (Leuven, Ghent, Liege).
Vacancy rates by region
The vacancy rate (empty properties available for rent) is a key indicator of market tension:
| Region | Vacancy 2024 | Vacancy 2026 | Interpretation |
|---|---|---|---|
| Brussels | 3.0% | 2.5% | Shortage |
| Flanders | 4.2% | 3.8% | Tight |
| Wallonia | 5.5% | 5.2% | Balanced |
| Belgium | 4.1% | 3.8% | Tight |
A balanced market sits around 5% vacancy. Below that, the market is “tight” (landlord advantage). Brussels at 2.5% is in a shortage situation: tenants have little choice and accept less favourable conditions.
For investors, a low vacancy rate is a positive signal. Our comparison by city factors this into the yield analysis.
New rental construction
The number of building permits for rental properties rose by 6% in 2025:
| Region | Permits 2024 | Permits 2025 | Change |
|---|---|---|---|
| Brussels | 2,800 | 2,950 | +5.4% |
| Flanders | 12,500 | 13,100 | +4.8% |
| Wallonia | 5,200 | 5,750 | +10.6% |
| Belgium | 20,500 | 21,800 | +6.3% |
Wallonia is seeing the strongest growth thanks to attractive land prices and regional incentives. But the lead time from permit to delivery is 18-24 months: properties authorised in 2025 will only reach the market in 2027.
The rise in Walloon construction creates opportunities for investors: new properties at moderate prices, with a good EPC and eligible for renovation grants.
Emerging trends
Co-living and structured shared housing
Co-living (shared housing with furnished communal spaces) accounts for 8% of new leases in Brussels in 2025. The typical profile: young professional (25-35), expat or on professional mobility. Coworking and co-living is covered in a dedicated article.
Digitalisation of management
42% of Belgian landlords now use a rental management tool (compared to 8% in 2020). Digitalisation speeds up processes (leases, indexation, receipts) and reduces disputes.
Furnished rental growing
Furnished rentals grew by 12% in 2025, driven by international mobility and short-term leases. The unfurnished vs furnished comparison analyses the profitability of both options.
Outlook 2026-2027
The Belgian rental market should remain tight in 2026-2027:
- Moderate rent increases (+2 to 3%) driven by indexation and shortage
- Declining vacancy in major cities, stabilisation in Wallonia
- Tightened regulation: EPC, rent grid, mediation — the framework is getting stricter
- Digitalisation: paper leases will be the exception by 2028
- New formats: co-living, structured shared housing, short-term furnished rentals
For landlords, it is a buoyant but demanding market. Regulatory compliance and energy performance are the two key success factors. Consult our 2026 investment guide and our rent statistics by region to make informed decisions.
Frequently asked questions
-
Approximately 1.85 million rental properties in 2026, representing 34% of the total stock. The proportion varies significantly: 62% tenants in Brussels, 35% in Wallonia and 28% in Flanders.
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Yes, especially in Brussels and university cities. The average vacancy rate is 3.8% (compared to 5% considered balanced). In Brussels, it drops to 2.5%, signalling a shortage.
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Yes. Co-living accounts for 8% of new leases in Brussels in 2025, up from 3% in 2020. It attracts young professionals (25-35) and expats, and offers returns 1 to 2 points higher for landlords.
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