Belgium Construction Market Overview
Belgium's residential construction market is currently contracting, with housing starts of 38K in 2023 — 11% below the 10-year average of 43K.
The country's recorded peak was 48K units in 2021. Current activity is -21% below that peak.
Among the 21 OECD countries tracked, Belgium ranks #17 by total housing starts. Year-over-year change is -13.6%, reflecting declining permits and reduced construction activity.
For contractors working in Belgium: A contracting market may create opportunities to negotiate better material pricing or lock in subcontractor rates.