Average rental yields in Belgium
Average gross yields in 2026: Wallonia 5-8%, Brussels 3-4.5%, Flanders 3.5-5%. Net yields are 1-2 points lower. The best yield-to-risk balance is in Walloon mid-sized cities (Namur, Mons). The highest absolute values are in Brussels (capital appreciation).
| Region | Gross yield | Net yield | Capital appreciation |
|---|---|---|---|
| Brussels | 3-4.5% | 2-3% | Strong |
| Wallonia | 5-8% | 3.5-6% | Moderate |
| Flanders | 3.5-5% | 2.5-4% | Strong |
Yields by city (2026 estimates)
| City | Average price (apt) | Average rent | Gross yield |
|---|---|---|---|
| Brussels (centre) | 320,000 EUR | 1,000 EUR/month | 3.75% |
| Ghent | 280,000 EUR | 950 EUR/month | 4.07% |
| Antwerp | 260,000 EUR | 900 EUR/month | 4.15% |
| Namur | 180,000 EUR | 800 EUR/month | 5.33% |
| Mons | 120,000 EUR | 650 EUR/month | 6.50% |
| Charleroi | 100,000 EUR | 600 EUR/month | 7.20% |
| Leuven | 300,000 EUR | 950 EUR/month | 3.80% |
These are averages — individual properties can significantly outperform or underperform based on location, condition and management. Always calculate the net yield for your specific investment before committing.
Yield vs capital appreciation
Yield and capital appreciation often move inversely:
- High yield, lower appreciation: Walloon cities (Charleroi, Mons) — great for cash flow
- Lower yield, high appreciation: Brussels, Leuven — great for long-term wealth building
- Balanced: Namur, Ghent suburbs — good yield with moderate appreciation
The optimal strategy depends on your investment goals: immediate income (prioritise yield) or long-term wealth (prioritise appreciation).
Regional specifics
Brussels-Capital Region
Brussels yields are compressed by high prices but supported by strong demand from EU institutions. The Ordinance of 27 July 2017 adds compliance considerations. Capital appreciation averages 3-4% annually.
Wallonia
Wallonia provides the highest yields under the Decree of 15 March 2018. University cities (Namur, Mons) offer the best risk-adjusted returns. Capital appreciation is slower (1-2% annually).
Flanders
Flanders sits in the middle under the Flemish Housing Rental Decree of 9 November 2018. University cities (Ghent, Leuven) command premiums but offer solid long-term returns.
Rental income for private individuals is taxed based on indexed cadastral income (CIR 1992, art. 7-13), not actual rent received. This makes Belgian taxation relatively favourable for rental investors compared to many EU countries.