In 2023, the number of Belgians owning a second home reached an all-time high, with approximately 1.15 million individuals holding an additional property.

This represents a 7% increase from 2022 and a 16% rise since 2019, according to research by BNP Paribas Fortis, as reported by Het Laatste Nieuws and De Tijd.

The majority of these second homes, over 931,000 properties, are located within Belgium, serving as holiday homes or rental properties. Notably, an increasing number of people in their 30s and 40s are purchasing homes abroad to facilitate telecommuting.

The data also indicates that BNP Paribas Fortis is increasingly financing buy-to-let properties. In 2023, 66% of loans for second homes were for rental properties, up from 60% in 2020 and 56% in 2019.

Despite this trend, the total number of loans granted decreased by 36% compared to 2022, attributed to higher interest rates. Additionally, the average amount borrowed for second homes declined from 236,700 euros in 2022 to 219,700 euros in 2023, marking the first decline in five years.