The cost of building land in Flanders is continuing its upward trajectory, with the median price surging to 429 euros per square meter. This marks a substantial 13 percent

annual increase, as outlined by the recent Baromètre des Notaires survey published this week.

Over the course of five years, land prices have surged by 50 percent. However, this year marks a significant milestone, surpassing the 400-euro mark. In comparison, the average price last year stood at 379 euros per square meter.

Land prices are at their pinnacle in the province of East Flanders, reaching 554 euros per square meter. Conversely, Limburg boasts the lowest average price, standing at 230 euros per square meter.

Flemish Brabant, enveloping the Brussels Capital Region, is the sole province experiencing a decline in its median price. Building land prices in this province witnessed a decline of 10.6 percent, landing at 403 euros per square meter.

In the first half of the year, the sale of building land decreased by 4 percent in Flanders and by 10 percent across the entire country, according to data from the Baromètre des Notaires.