How to Estimate Your Property's Value

Why Estimate Your Property Correctly?

Whether you want to sell, refinance your mortgage or simply know the value of your assets, an accurate estimate is essential. In Belgium, a 10% estimation error on a 300,000-euro property represents a 30,000-euro difference. Overestimating your property scares off buyers and extends the selling period. Underestimating means selling at a loss.

Three professional methods coexist for valuing property. Experts often combine them to arrive at a reliable price range.

Method 1: Comparison (Comparative Method)

Principle

The comparative method analyses the actual sale prices of similar properties recently sold in the same geographical area. It is the most widely used and most reliable method for residential property in Belgium.

How to Apply It

1. Identify 5 to 10 comparable properties sold in the last 12 months, within a 2 to 5 km radius
2. Comparison criteria: property type, living area, number of bedrooms, year of construction, overall condition, EPC, land, garage, orientation
3. Adjust for differences: if your property has a 200 m2 garden and the comparable does not, add the garden value (approximately 100 to 200 euros/m2 in urban areas)
4. Calculate the adjusted average to obtain your estimate

Where to Find Data

• Statbel: official price statistics by municipality (data we use on Immolytics)
• Notary Barometer: median prices by property type and municipality, based on authentic deeds
• Immolytics: check our price-per-municipality pages for the most recent data
• Listing sites: Immoweb, Zimmo show asking prices (note: asking prices average 5 to 10% higher than actual sale prices)

Example

You own a 2-bedroom apartment of 85 m2 in Namur, EPC C, with 10 m2 terrace. Five recent comparable sales:

• Apt 80 m2, EPC D, no terrace: sold 185,000 euros → adjusted +8,000 (area) +5,000 (EPC) +5,000 (terrace) = 203,000 euros
• Apt 90 m2, EPC B, with terrace: sold 225,000 euros → adjusted -3,000 (area) -5,000 (EPC) = 217,000 euros
• Apt 85 m2, EPC C, no terrace: sold 195,000 euros → adjusted +5,000 (terrace) = 200,000 euros

Comparative estimate: average of 203,000, 217,000 and 200,000 = approximately 207,000 euros

Method 2: Income Capitalisation

Principle

The capitalisation method estimates property value based on its potential rental income. It is particularly relevant for investment properties (rental apartments, multi-unit buildings).

Formula

Value = Annual net rental income / Capitalisation rate

Example

Our Namur apartment could rent for 800 euros/month (9,600 euros/year gross). After non-recoverable charges (1,500 euros/year), net income is 8,100 euros/year.

With a capitalisation rate of 4% (typical for Namur in 2025): 8,100 / 0.04 = 202,500 euros

Capitalisation rates vary by region:

• Brussels expensive municipalities: 2.5 to 3.5%
• Brussels popular municipalities: 3.5 to 5%
• Flanders major cities: 3 to 4%
• Wallonia mid-sized cities: 4 to 6%

The lower the capitalisation rate, the more expensive the property relative to its yield. To calculate the precise return on your investment, use our rental yield calculator.

Method 3: Replacement Cost

Principle

This method estimates how much it would cost to rebuild the property from scratch today, then applies a depreciation for age and wear. It is mainly used for atypical properties (castles, industrial buildings) or when comparables are scarce.

Formula

Value = (Land value + New construction cost) - Depreciation

Example

For a 150 m2 house on a 300 m2 plot in Wavre:

• Land value: 300 m2 x 250 euros/m2 = 75,000 euros
• New construction cost: 150 m2 x 1,800 euros/m2 = 270,000 euros
• Depreciation (30-year-old house, well maintained): -25% = -67,500 euros
• Estimated value: 277,500 euros

EPC Impact on Value

The energy performance certificate (EPC) has a growing impact on property values in Belgium. According to Notaris.be data:

• A property with EPC A sells on average 15 to 20% more than a comparable EPC D property
• A property with EPC F or G suffers a 15 to 25% discount compared to EPC C
• The gap widens every year as legal obligations tighten

To understand the EPC's impact on your property, see our complete EPC certificate guide.

Online Valuation Tools

• Immolytics: our data per municipality gives you the median price and evolution for every Belgian municipality
• Realo: automatic estimation based on cadastral data and recent sales
• Immoweb Estimation: free estimation tool based on listings
• Independent expert: for a professional valuation, expect 250 to 500 euros. Recommended for significant sales or inheritances.

Tips for a Reliable Estimate

• Cross-reference methods: use at least two of the three methods for a reliable price range
• Be objective: owners often overestimate their property by 10 to 15% (emotional attachment has no market value)
• Account for seasonality: the market is most active in spring and autumn. Prices can vary 3 to 5% by season.
• Check the cadastral income: it influences property tax and therefore the property's attractiveness to investors
• Do not forget hidden defects: damp, asbestos, roof to replace... these can reduce value by 10 to 30%