Banque nationale de Belgique : Press release - NAI - Stocks of land owned by individuals PDF

National Accounts Institute

2021-12-23

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Infographics

NBB.Stat

General information

Real estate assets owned by private individuals in Belgium commanded a total value of €1 648 billion in 2020

• Individuals' total real estate assets in Belgium in 2020 break down into land to the tune of €1 031 billion (63% of total) and buildings estimated at a value of €617 billion (37% of total).

Belgian land owned by private individuals estimated at €1 031 billion in 2020

The value of built-up land breaks down into the value of the underlying dwellings (and other structures) and the value of the underlying land.

In total, the value of Belgian land parcels owned by private individuals is estimated at € 1 031 billion in 2020, i.e. an increase of 5.7% compared to 2019. Land underlying dwellings continues to account for the large majority (77.2% in 2020) of the value of land owned by private individuals (resident households including the self-employed and nonprofit organisations serving households). Other types of land they own include land underlying buildings and other structures (5.7%), consisting mainly of non-residential land held by the self-employed for their productive activities, land for construction purposes (5.1%) and agricultural land (3.9%).

Buildings stocks held by individuals amounts to € 617 billion in 2020, which represents an increase of 3.5% compared to 2019. Of this stock, € 599 billion relates to residential buildings.

Total real estate assets owned by individuals in Belgium were worth €1 648 billion, exceeding their net financial assets of €1 146 billion at the end of 2020.

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REAL ESTATE ASSETS OWNED BY INDIVIDUALS IN BELGIUM (S.14 + S.15)¹

(in € billion)

	2000	2010	2019	2020	2020 in
					% of land
A. Land	302.5	708.7	975.6	1 031.1	100.0%
Land underlying dwellings	203.5	537.9	744.4	795.5	77.2%
Land underlying buildings and other structures	31.6	50.5	58.8	58.3	5.7%
Agricultural land	33.3	35.3	39.1	39.8	3.9%
Forestry land	2.2	3.3	3.4	3.4	0.3%
Surface water used for aquaculture	0.0	0.1	0.2	0.2	0.0%
Recreational land and associated surface water	8.5	26.1	32.9	33.2	3.2%
Land for construction purposes	9.0	30.2	49.5	53.0	5.1%
Other land²	14.3	25.2	47.4	47.8	4.6%
B. Buildings and structures	286.8	466.7	596.1	616.8
Dwellings	268.3	448.4	577.9	598.9
Other buildings and structures	18.5	18.4	18.2	17.9
C. Real estate assets (C = A+B)	589.3	1 175.4	1 571.7	1 647.9
Pm. Net financial assets	622.0	833.7	1 102.7	1 145.9

• Households and non-profit organisations serving households; the figures for the 1995-2020 period are available from NBB.Stat. ² The category other land contains, among others, gardens, dunes and ponds.

The methodology for calculating land stocks has been published in detail1 and is estimated by multiplying volumes (land) by prices (of transactions in the secondary market). The value of undeveloped land comes from a direct estimate, while the value of developed land is derived from the total value less the value of buildings as calculated in the capital stock.

1 The methodology for calculating land stock can be found on the NBB website: https://www.nbb.be/doc/dq/e_method/m_land1506en.pdf

The methodological changes arising from the five-yearly review of the national accounts in 2019 are detailed in a separate document:

https://www.nbb.be/doc/dq/e_method/m_rev19_e.pdf

Communication	boulevard de Berlaimont 14	phone + 32 2 221 46 28	VAT BE 0203.201.340
National Bank of Belgium Ltd.	BE-1000 BRUSSELS	www.nbb.be	RLP Brussels