Bidding pushes prices up, so doesn't the discount vanish?

It does push prices up, and we measure it: +26.4% median increase from starting price to closing price. And yet 67 of the 88 measured closed auctions sold below their municipality's median, with a median final gap of -29.4%. The discount shrinks during bidding, it does not always disappear. On the 21 others, the price went above the municipal median, and those auctions are in the table.

You need cash very fast, right?

Yes, and that is the real barrier to entry in this market. In an online public auction you must be able to pay within the deadlines of the terms of sale, often a few weeks, with a bank agreement already in place or your own funds. Pépites tells you where to look and how far to go, it does not finance. If your financing is not ready, the subscription is premature.

I know nothing about public auctions.

The edition is not a course, but it reads without experience: every fact sheet links to the sale on Biddit, where the terms of sale and the acting notary are listed, and the notary answers questions and arranges viewings. What you need to understand before a first bid fits in one reading of the terms of sale. If that is your only obstacle, start with the light edition: it is free and it arrives every Monday.

Because it is the price of a working tool, not of a newsletter: a daily survey of every public auction in the country, a maintained database of municipal prices, a bidding ceiling computed lot by lot, and the reading of the terms of sale. One lot avoided at the wrong price, or one lot taken at the right one, covers the year. If you never buy at public auction, this subscription is worth nothing to you: do not take it.

Where exactly does the data come from?

Public auctions are recorded on Biddit, the official platform of Belgian notaries. Reference prices come from Statbel, the Belgian statistical office, which publishes real notarial deed prices per municipality and property type. It is the same data as on the Immolytics price pages, with no proprietary reprocessing.

Yes, at any time. The subscription ends at the close of the paid period, and the free light edition can be left in one click from any issue.

Monitoring service for Belgian public auctions

The public auctions that sell below the real price of their municipality.

Every Monday, the national ranking of gaps between the starting price and the Statbel median of the municipality, lot by lot, with the price above which an investor loses their margin.

See a complete edition The posted-price properties, no auction

Get the light edition

Free. The five largest gaps of the week, straight away, then every Monday.

Free. The light edition reaches your inbox straight away, then every Monday.

517
public auctions tracked at the latest survey: 67 / 88
closed auctions that sold below their municipality's median: -29.4%
median gap between closing price and municipal median

What you receive every week

One edition, two parts: the national ranking of gaps, then the costed fact sheet for each lot. No editorial, no news, no advertising.

See a complete edition, exactly as it was sent

The ranking of gaps

A real excerpt from the ranking at the survey of 15 September 2026. Out of the 517 live public auctions scored that day, the 10 largest gaps among houses and apartments with a published EPC label and a starting price of at least 50,000 euros.

The ranking of gaps
Municipality	Province	Property	EPC	Bd.	Starting price	Municipal median	Gap	Session
LubbeekLinden	Flemish Brabant	House	F	2	€55,000	€439,500T1 2026	-87.5% below median	27 Sept to 5 Oct
Lokeren	East Flanders	House	E	1	€50,000	€332,500T1 2026	-85% below median	19 Oct to 27 Oct
MaasmechelenMechelen-aan-de-Maas	Limburg	House	F	2	€50,000	€245,000T1 2026	-79.6% below median	16 Sept to 24 Sept
Ans	Liège	House	G	5	€50,000	€227,500T1 2026	-78% below median	1 Oct to 9 Oct
Braine-le-Comte	Hainaut	House	G	3	€50,000	€225,000T1 2026	-77.8% below median	12 Oct to 20 Oct
LiègeAngleur	Liège	House	G	3	€50,000	€220,000T1 2026	-77.3% below median	28 Sept to 6 Oct
Bruxelles	Brussels	House	G	6	€100,000	€432,500T1 2026	-76.9% below median	12 Oct to 20 Oct
Izegem	West Flanders	House	F	3	€50,000	€216,000T1 2026	-76.9% below median	6 Oct to 14 Oct
OlneNessonvaux	Liège	House	G	3	€80,000	€343,500T4 2025	-76.7% below median	12 Oct to 20 Oct
Dilbeek	Flemish Brabant	Apartment	D	2	€74,999	€320,000T1 2026	-76.6% below median	30 Sept to 8 Oct

Lubbeek
Linden · Flemish Brabant
-87.5% below median
House · EPC F · 2 bd.
Starting price
€55,000
Municipal median
€439,500T1 2026
Session
27 Sept to 5 Oct
Lokeren
East Flanders
-85% below median
House · EPC E · 1 bd.
Starting price
€50,000
Municipal median
€332,500T1 2026
Session
19 Oct to 27 Oct
Maasmechelen
Mechelen-aan-de-Maas · Limburg
-79.6% below median
House · EPC F · 2 bd.
Starting price
€50,000
Municipal median
€245,000T1 2026
Session
16 Sept to 24 Sept
Ans
Liège
-78% below median
House · EPC G · 5 bd.
Starting price
€50,000
Municipal median
€227,500T1 2026
Session
1 Oct to 9 Oct
Braine-le-Comte
Hainaut
-77.8% below median
House · EPC G · 3 bd.
Starting price
€50,000
Municipal median
€225,000T1 2026
Session
12 Oct to 20 Oct
Liège
Angleur · Liège
-77.3% below median
House · EPC G · 3 bd.
Starting price
€50,000
Municipal median
€220,000T1 2026
Session
28 Sept to 6 Oct
Bruxelles
Brussels
-76.9% below median
House · EPC G · 6 bd.
Starting price
€100,000
Municipal median
€432,500T1 2026
Session
12 Oct to 20 Oct
Izegem
West Flanders
-76.9% below median
House · EPC F · 3 bd.
Starting price
€50,000
Municipal median
€216,000T1 2026
Session
6 Oct to 14 Oct
Olne
Nessonvaux · Liège
-76.7% below median
House · EPC G · 3 bd.
Starting price
€80,000
Municipal median
€343,500T4 2025
Session
12 Oct to 20 Oct
Dilbeek
Flemish Brabant
-76.6% below median
Apartment · EPC D · 2 bd.
Starting price
€74,999
Municipal median
€320,000T1 2026
Session
30 Sept to 8 Oct

Without that filter, the top of the ranking is taken by ruins and undivided shares carrying a token starting price. The full edition includes those too, labelled as such.

A starting price is not a selling price: it is the deliberately low opening point of the bidding. That is why the table of closed auctions above matters more than this one.

One fact sheet, field by field

The first lot of the ranking above, exactly as it arrives in an edition.

The exact address, the link to the Biddit listing and the reading of the terms of sale are not published here: that is what the subscription buys.

Lubbeek

-87.5%

Municipality: Lubbeek (Linden)
Province: Flemish Brabant
Property type: House
EPC label: F
Bedrooms: 2
Floor area: not published
Starting price: €55,000
Municipal median (T1 2026): €439,500
Risk labels: floor area not published · EPC F or G, Flemish renovation obligation
Bidding opens: 27 Sept to 5 Oct
Bidding ceiling: €199,700
Renovation budget: €112,000
Estimated monthly rent: €1,494
Gross yield at the ceiling: 7.5%
Address and link to the sale: Subscribers only
Terms of sale: Subscribers only

Do these properties really sell below the market price?

The only honest answer is in the auctions that have already ended. For each one: the starting price, the price reached when bidding closed, and the real median price of the same property type in the same municipality. The gap is the distance between the closing price and that median.

Online auctions closed between 26 August 2026 and 14 September 2026: 161 tracked. The measurement keeps only the 88 that received at least one bid, sold above 30,000 euros, and sit in a municipality where Statbel publishes a median for that property type.

67 / 88
sold below their municipality's median: -29.4%
median final gap to the municipal market: +26.4%
median increase from starting price to close

Distribution of the 88 gaps measured at closing

−50% and below−50 to −30%−30 to −10%−10 to 0%0 to +20%above +20%

Gap between the closing price and the municipal median for the same property type. Solid bars count sales that closed below the median, grey bars those that closed above.

21 of these 88 auctions closed above their municipality's median. They are in the table: a measurement that only shows what suits it stops being a measurement.

The municipal median is that of real sales of the same property type in the municipality, latest quarter published by Statbel. It describes the municipality's market, not this particular property: a smaller, older or EPC G rated home legitimately sells below the median.

The last bid observed at closing is not always the final award price: the terms of sale may allow a higher bid period or a refusal by the seller.

See the 88 measured sales, one by one

The table starts with the largest gaps below the municipal median, then climbs to the auctions that closed above it.

Do these properties really sell below the market price?
Closed	Municipality	Property	EPC	Starting price	Closing price	Municipal median	Gap
8 Sept	VerviersEnsival	House	·	€50,000	€52,000	€200,000T1 2026	-74% below median
10 Sept	Puurs-Sint-AmandsPuurs	House	F	€71,400	€105,400	€335,000T1 2026	-68.5% below median
1 Sept	BouillonCorbion	House	G	€30,000	€64,000	€190,000T4 2025	-66.3% below median
9 Sept	FrameriesLa Bouverie	House	·	€40,000	€51,000	€150,000T1 2026	-66% below median
10 Sept	Spa	House	E	€40,000	€111,000	€290,000T4 2025	-61.7% below median
8 Sept	CharleroiMontignies-sur-Sambre	House	·	€20,000	€63,000	€159,500T1 2026	-60.5% below median
8 Sept	Verviers	Apartment	D	€65,000	€67,000	€165,000T1 2026	-59.4% below median
4 Sept	Oostkamp	House	D	€145,000	€146,000	€355,000T1 2026	-58.9% below median
10 Sept	Overijse	House	E	€150,000	€205,000	€497,000T1 2026	-58.8% below median
2 Sept	Fosses-la-Ville	House	G	€45,000	€100,000	€239,000T1 2026	-58.2% below median
27 Aug	VerviersEnsival	House	E	€70,000	€85,000	€200,000T1 2026	-57.5% below median
3 Sept	Jette	Apartment	·	€80,000	€94,000	€219,148T1 2026	-57.1% below median
8 Sept	Verviers	Apartment	D	€35,000	€71,000	€165,000T1 2026	-57% below median
4 Sept	Oostkamp	House	E	€150,000	€159,000	€355,000T1 2026	-55.2% below median
28 Aug	MonsJemappes	House	G	€75,000	€79,000	€175,000T1 2026	-54.9% below median
14 Sept	CharleroiMarchienne-au-Pont	House	G	€60,000	€75,000	€159,500T1 2026	-53% below median
9 Sept	Lokeren	House	C	€148,000	€160,000	€332,500T1 2026	-51.9% below median
8 Sept	KluisbergenRuien	House	F	€120,000	€140,000	€289,000T1 2026	-51.6% below median
11 Sept	Middelkerke	Apartment	D	€65,000	€118,000	€232,500T1 2026	-49.2% below median
1 Sept	Beernem	House	E	€155,000	€203,000	€399,110T1 2026	-49.1% below median
26 Aug	La LouvièreMaurage	House	F	€80,000	€89,000	€175,000T1 2026	-49.1% below median
3 Sept	Chapelle-lez-Herlaimont	House	G	€65,000	€79,000	€150,000T1 2026	-47.3% below median
8 Sept	BeringenKoersel	House	F	€130,000	€132,000	€247,000T1 2026	-46.6% below median
1 Sept	Kortemark	House	F	€125,000	€133,000	€245,000T1 2026	-45.7% below median
4 Sept	Hoeselt	House	E	€160,000	€188,000	€325,000T1 2026	-42.2% below median
8 Sept	Charleroi	Apartment	C	€60,000	€70,000	€121,000T1 2026	-42.1% below median
1 Sept	Lanaken	House	E	€160,000	€171,000	€294,500T1 2026	-41.9% below median
4 Sept	Vilvoorde	House	D	€200,000	€241,000	€411,000T1 2026	-41.4% below median
9 Sept	Liedekerke	House	·	€75,000	€171,000	€290,000T1 2026	-41% below median
4 Sept	Vilvoorde	House	C	€220,000	€245,000	€411,000T1 2026	-40.4% below median
2 Sept	CharleroiMarchienne-au-Pont	House	D	€40,000	€95,000	€159,500T1 2026	-40.4% below median
1 Sept	Ruiselede	House	F	€190,000	€211,000	€350,000T1 2026	-39.7% below median
11 Sept	Uccle	Apartment	G	€200,000	€201,000	€330,000T1 2026	-39.1% below median
8 Sept	Attert	House	E	€275,000	€298,000	€485,000T4 2025	-38.6% below median
27 Aug	Maaseik	House	F	€130,000	€206,000	€332,500T1 2026	-38% below median
4 Sept	MaasmechelenMechelen-aan-de-Maas	House	E	€155,000	€156,000	€245,000T1 2026	-36.3% below median
2 Sept	AnversAntwerpen	Apartment	C	€150,000	€165,000	€250,000T1 2026	-34% below median
2 Sept	Bastogne	House	D	€150,000	€165,000	€250,000T1 2026	-34% below median
9 Sept	Boussu	House	D	€85,000	€96,000	€145,000T1 2026	-33.8% below median
8 Sept	Saint-Josse-ten-Noode	House	G	€150,000	€237,000	€357,500T4 2025	-33.7% below median
8 Sept	BrugesBrugge	House	C	€220,000	€227,000	€340,000T1 2026	-33.2% below median
10 Sept	Leuven	Apartment	C	€140,000	€218,000	€322,500T1 2026	-32.4% below median
10 Sept	NamurJambes	House	E	€100,000	€185,000	€270,000T1 2026	-31.5% below median
9 Sept	Harelbeke	House	E	€75,000	€153,000	€219,000T1 2026	-30.1% below median
27 Aug	Pepingen	House	D	€280,000	€294,000	€412,500T4 2025	-28.7% below median
1 Sept	Ruiselede	House	F	€190,000	€250,000	€350,000T1 2026	-28.6% below median
8 Sept	CourtraiHeule	House	B	€200,000	€208,000	€285,000T1 2026	-27% below median
28 Aug	Berlare	House	C	€220,000	€221,000	€300,000T1 2026	-26.3% below median
4 Sept	BrugesBrugge	House	E	€235,000	€251,000	€340,000T1 2026	-26.2% below median
14 Sept	Anderlecht	Apartment	E_M	€120,000	€146,000	€197,500T1 2026	-26.1% below median
31 Aug	Renaix	House	F	€120,000	€155,000	€209,000T1 2026	-25.8% below median
2 Sept	Flémalle	House	E	€90,000	€157,000	€202,500T1 2026	-22.5% below median
9 Sept	Liedekerke	House	·	€120,000	€225,000	€290,000T1 2026	-22.4% below median
3 Sept	HouffalizeMont	House	E	€234,400	€235,400	€299,500T4 2025	-21.4% below median
1 Sept	Oostkamp	House	D	€250,000	€280,000	€355,000T1 2026	-21.1% below median
9 Sept	VilvoordePeutie	House	F	€280,000	€326,000	€411,000T1 2026	-20.7% below median
27 Aug	Binche	House	D	€120,000	€141,000	€176,250T1 2026	-20% below median
4 Sept	Vielsalm	House	G	€85,000	€147,000	€182,500T4 2025	-19.5% below median
4 Sept	La LouvièreHaine-Saint-Pierre	House	F	€55,000	€142,000	€175,000T1 2026	-18.9% below median
1 Sept	ViroinvalOignies-en-Thiérache	House	D	€65,000	€115,000	€141,300T1 2026	-18.6% below median
8 Sept	CharleroiMontignies-sur-Sambre	House	·	€50,000	€131,000	€159,500T1 2026	-17.9% below median
11 Sept	Middelkerke	Apartment	F	€65,000	€194,000	€232,500T1 2026	-16.6% below median
8 Sept	La PanneDe Panne	House	F	€210,000	€222,000	€264,000T1 2026	-15.9% below median
14 Sept	Oreye	House	G	€120,000	€215,000	€250,500T4 2025	-14.2% below median
10 Sept	BraivesLatinne	House	B	€150,000	€235,000	€272,500T4 2025	-13.8% below median
1 Sept	AudenardeOudenaarde	House	F	€151,000	€236,000	€265,000T1 2026	-10.9% below median
1 Sept	Herve	Apartment	C	€165,000	€195,000	€203,000T4 2025	-3.9% below median
10 Sept	NieuportNieuwpoort	Apartment	B	€210,000	€287,000	€286,500T1 2026	+0.2% above
8 Sept	Verviers	House	D	€140,000	€202,000	€200,000T1 2026	+1% above
8 Sept	Saint-Nicolas	House	D	€150,000	€206,000	€199,000T1 2026	+3.5% above
9 Sept	Thimister-Clermont	House	D	€175,000	€257,000	€245,000T4 2025	+4.9% above
2 Sept	MaasmechelenEisden	House	·	€215,000	€260,000	€245,000T1 2026	+6.1% above
2 Sept	RoulersRumbeke	House	B	€199,500	€272,500	€250,000T1 2026	+9% above
26 Aug	CharleroiGilly	House	C	€140,000	€175,000	€159,500T1 2026	+9.7% above
10 Sept	FleurusBrye	House	F	€140,000	€271,000	€210,000T1 2026	+29% above
10 Sept	Ciney	Apartment	A	€175,000	€222,000	€169,000T1 2026	+31.4% above
27 Aug	Harelbeke	House	·	€260,000	€288,000	€219,000T1 2026	+31.5% above
1 Sept	Ruiselede	House	F	€380,000	€464,000	€350,000T1 2026	+32.6% above
9 Sept	Bastogne	House	G	€240,000	€365,000	€250,000T1 2026	+46% above
4 Sept	Willebroek	House	D	€350,000	€465,000	€315,000T1 2026	+47.6% above
9 Sept	Boechout	House	F	€650,000	€695,000	€425,750T1 2026	+63.2% above
8 Sept	RemicourtHodeige	House	A	€200,000	€462,000	€250,000T4 2025	+84.8% above
8 Sept	NamurMalonne	House	·	€105,000	€511,000	€270,000T1 2026	+89.3% above
26 Aug	OstendeOostende	Apartment	B	€250,000	€430,000	€220,000T1 2026	+95.5% above
31 Aug	MorlanwelzCarnières	House	G	€220,000	€336,000	€170,000T1 2026	+97.6% above
9 Sept	Hasselt	House	A	€600,000	€776,000	€344,500T1 2026	+125.3% above
3 Sept	Beloeil	House	C	€340,000	€428,000	€148,000T1 2026	+189.2% above
10 Sept	OupeyeHermalle-sous-Argenteau	Apartment	·	€450,000	€680,000	€216,500T4 2025	+214.1% above

Verviers
Ensival
-74% below median
House · 8 Sept
Starting price
€50,000
Closing price
€52,000
Municipal median
€200,000T1 2026
Puurs-Sint-Amands
Puurs
-68.5% below median
House · EPC F · 10 Sept
Starting price
€71,400
Closing price
€105,400
Municipal median
€335,000T1 2026
Bouillon
Corbion
-66.3% below median
House · EPC G · 1 Sept
Starting price
€30,000
Closing price
€64,000
Municipal median
€190,000T4 2025
Frameries
La Bouverie
-66% below median
House · 9 Sept
Starting price
€40,000
Closing price
€51,000
Municipal median
€150,000T1 2026
Spa
-61.7% below median
House · EPC E · 10 Sept
Starting price
€40,000
Closing price
€111,000
Municipal median
€290,000T4 2025
Charleroi
Montignies-sur-Sambre
-60.5% below median
House · 8 Sept
Starting price
€20,000
Closing price
€63,000
Municipal median
€159,500T1 2026
Verviers
-59.4% below median
Apartment · EPC D · 8 Sept
Starting price
€65,000
Closing price
€67,000
Municipal median
€165,000T1 2026
Oostkamp
-58.9% below median
House · EPC D · 4 Sept
Starting price
€145,000
Closing price
€146,000
Municipal median
€355,000T1 2026

See the 80 other closed auctions

Overijse
-58.8% below median
House · EPC E · 10 Sept
Starting price
€150,000
Closing price
€205,000
Municipal median
€497,000T1 2026
Fosses-la-Ville
-58.2% below median
House · EPC G · 2 Sept
Starting price
€45,000
Closing price
€100,000
Municipal median
€239,000T1 2026
Verviers
Ensival
-57.5% below median
House · EPC E · 27 Aug
Starting price
€70,000
Closing price
€85,000
Municipal median
€200,000T1 2026
Jette
-57.1% below median
Apartment · 3 Sept
Starting price
€80,000
Closing price
€94,000
Municipal median
€219,148T1 2026
Verviers
-57% below median
Apartment · EPC D · 8 Sept
Starting price
€35,000
Closing price
€71,000
Municipal median
€165,000T1 2026
Oostkamp
-55.2% below median
House · EPC E · 4 Sept
Starting price
€150,000
Closing price
€159,000
Municipal median
€355,000T1 2026
Mons
Jemappes
-54.9% below median
House · EPC G · 28 Aug
Starting price
€75,000
Closing price
€79,000
Municipal median
€175,000T1 2026
Charleroi
Marchienne-au-Pont
-53% below median
House · EPC G · 14 Sept
Starting price
€60,000
Closing price
€75,000
Municipal median
€159,500T1 2026
Lokeren
-51.9% below median
House · EPC C · 9 Sept
Starting price
€148,000
Closing price
€160,000
Municipal median
€332,500T1 2026
Kluisbergen
Ruien
-51.6% below median
House · EPC F · 8 Sept
Starting price
€120,000
Closing price
€140,000
Municipal median
€289,000T1 2026
Middelkerke
-49.2% below median
Apartment · EPC D · 11 Sept
Starting price
€65,000
Closing price
€118,000
Municipal median
€232,500T1 2026
Beernem
-49.1% below median
House · EPC E · 1 Sept
Starting price
€155,000
Closing price
€203,000
Municipal median
€399,110T1 2026
La Louvière
Maurage
-49.1% below median
House · EPC F · 26 Aug
Starting price
€80,000
Closing price
€89,000
Municipal median
€175,000T1 2026
Chapelle-lez-Herlaimont
-47.3% below median
House · EPC G · 3 Sept
Starting price
€65,000
Closing price
€79,000
Municipal median
€150,000T1 2026
Beringen
Koersel
-46.6% below median
House · EPC F · 8 Sept
Starting price
€130,000
Closing price
€132,000
Municipal median
€247,000T1 2026
Kortemark
-45.7% below median
House · EPC F · 1 Sept
Starting price
€125,000
Closing price
€133,000
Municipal median
€245,000T1 2026
Hoeselt
-42.2% below median
House · EPC E · 4 Sept
Starting price
€160,000
Closing price
€188,000
Municipal median
€325,000T1 2026
Charleroi
-42.1% below median
Apartment · EPC C · 8 Sept
Starting price
€60,000
Closing price
€70,000
Municipal median
€121,000T1 2026
Lanaken
-41.9% below median
House · EPC E · 1 Sept
Starting price
€160,000
Closing price
€171,000
Municipal median
€294,500T1 2026
Vilvoorde
-41.4% below median
House · EPC D · 4 Sept
Starting price
€200,000
Closing price
€241,000
Municipal median
€411,000T1 2026
Liedekerke
-41% below median
House · 9 Sept
Starting price
€75,000
Closing price
€171,000
Municipal median
€290,000T1 2026
Vilvoorde
-40.4% below median
House · EPC C · 4 Sept
Starting price
€220,000
Closing price
€245,000
Municipal median
€411,000T1 2026
Charleroi
Marchienne-au-Pont
-40.4% below median
House · EPC D · 2 Sept
Starting price
€40,000
Closing price
€95,000
Municipal median
€159,500T1 2026
Ruiselede
-39.7% below median
House · EPC F · 1 Sept
Starting price
€190,000
Closing price
€211,000
Municipal median
€350,000T1 2026
Uccle
-39.1% below median
Apartment · EPC G · 11 Sept
Starting price
€200,000
Closing price
€201,000
Municipal median
€330,000T1 2026
Attert
-38.6% below median
House · EPC E · 8 Sept
Starting price
€275,000
Closing price
€298,000
Municipal median
€485,000T4 2025
Maaseik
-38% below median
House · EPC F · 27 Aug
Starting price
€130,000
Closing price
€206,000
Municipal median
€332,500T1 2026
Maasmechelen
Mechelen-aan-de-Maas
-36.3% below median
House · EPC E · 4 Sept
Starting price
€155,000
Closing price
€156,000
Municipal median
€245,000T1 2026
Anvers
Antwerpen
-34% below median
Apartment · EPC C · 2 Sept
Starting price
€150,000
Closing price
€165,000
Municipal median
€250,000T1 2026
Bastogne
-34% below median
House · EPC D · 2 Sept
Starting price
€150,000
Closing price
€165,000
Municipal median
€250,000T1 2026
Boussu
-33.8% below median
House · EPC D · 9 Sept
Starting price
€85,000
Closing price
€96,000
Municipal median
€145,000T1 2026
Saint-Josse-ten-Noode
-33.7% below median
House · EPC G · 8 Sept
Starting price
€150,000
Closing price
€237,000
Municipal median
€357,500T4 2025
Bruges
Brugge
-33.2% below median
House · EPC C · 8 Sept
Starting price
€220,000
Closing price
€227,000
Municipal median
€340,000T1 2026
Leuven
-32.4% below median
Apartment · EPC C · 10 Sept
Starting price
€140,000
Closing price
€218,000
Municipal median
€322,500T1 2026
Namur
Jambes
-31.5% below median
House · EPC E · 10 Sept
Starting price
€100,000
Closing price
€185,000
Municipal median
€270,000T1 2026
Harelbeke
-30.1% below median
House · EPC E · 9 Sept
Starting price
€75,000
Closing price
€153,000
Municipal median
€219,000T1 2026
Pepingen
-28.7% below median
House · EPC D · 27 Aug
Starting price
€280,000
Closing price
€294,000
Municipal median
€412,500T4 2025
Ruiselede
-28.6% below median
House · EPC F · 1 Sept
Starting price
€190,000
Closing price
€250,000
Municipal median
€350,000T1 2026
Courtrai
Heule
-27% below median
House · EPC B · 8 Sept
Starting price
€200,000
Closing price
€208,000
Municipal median
€285,000T1 2026
Berlare
-26.3% below median
House · EPC C · 28 Aug
Starting price
€220,000
Closing price
€221,000
Municipal median
€300,000T1 2026
Bruges
Brugge
-26.2% below median
House · EPC E · 4 Sept
Starting price
€235,000
Closing price
€251,000
Municipal median
€340,000T1 2026
Anderlecht
-26.1% below median
Apartment · EPC E_M · 14 Sept
Starting price
€120,000
Closing price
€146,000
Municipal median
€197,500T1 2026
Renaix
-25.8% below median
House · EPC F · 31 Aug
Starting price
€120,000
Closing price
€155,000
Municipal median
€209,000T1 2026
Flémalle
-22.5% below median
House · EPC E · 2 Sept
Starting price
€90,000
Closing price
€157,000
Municipal median
€202,500T1 2026
Liedekerke
-22.4% below median
House · 9 Sept
Starting price
€120,000
Closing price
€225,000
Municipal median
€290,000T1 2026
Houffalize
Mont
-21.4% below median
House · EPC E · 3 Sept
Starting price
€234,400
Closing price
€235,400
Municipal median
€299,500T4 2025
Oostkamp
-21.1% below median
House · EPC D · 1 Sept
Starting price
€250,000
Closing price
€280,000
Municipal median
€355,000T1 2026
Vilvoorde
Peutie
-20.7% below median
House · EPC F · 9 Sept
Starting price
€280,000
Closing price
€326,000
Municipal median
€411,000T1 2026
Binche
-20% below median
House · EPC D · 27 Aug
Starting price
€120,000
Closing price
€141,000
Municipal median
€176,250T1 2026
Vielsalm
-19.5% below median
House · EPC G · 4 Sept
Starting price
€85,000
Closing price
€147,000
Municipal median
€182,500T4 2025
La Louvière
Haine-Saint-Pierre
-18.9% below median
House · EPC F · 4 Sept
Starting price
€55,000
Closing price
€142,000
Municipal median
€175,000T1 2026
Viroinval
Oignies-en-Thiérache
-18.6% below median
House · EPC D · 1 Sept
Starting price
€65,000
Closing price
€115,000
Municipal median
€141,300T1 2026
Charleroi
Montignies-sur-Sambre
-17.9% below median
House · 8 Sept
Starting price
€50,000
Closing price
€131,000
Municipal median
€159,500T1 2026
Middelkerke
-16.6% below median
Apartment · EPC F · 11 Sept
Starting price
€65,000
Closing price
€194,000
Municipal median
€232,500T1 2026
La Panne
De Panne
-15.9% below median
House · EPC F · 8 Sept
Starting price
€210,000
Closing price
€222,000
Municipal median
€264,000T1 2026
Oreye
-14.2% below median
House · EPC G · 14 Sept
Starting price
€120,000
Closing price
€215,000
Municipal median
€250,500T4 2025
Braives
Latinne
-13.8% below median
House · EPC B · 10 Sept
Starting price
€150,000
Closing price
€235,000
Municipal median
€272,500T4 2025
Audenarde
Oudenaarde
-10.9% below median
House · EPC F · 1 Sept
Starting price
€151,000
Closing price
€236,000
Municipal median
€265,000T1 2026
Herve
-3.9% below median
Apartment · EPC C · 1 Sept
Starting price
€165,000
Closing price
€195,000
Municipal median
€203,000T4 2025
Nieuport
Nieuwpoort
+0.2% above
Apartment · EPC B · 10 Sept
Starting price
€210,000
Closing price
€287,000
Municipal median
€286,500T1 2026
Verviers
+1% above
House · EPC D · 8 Sept
Starting price
€140,000
Closing price
€202,000
Municipal median
€200,000T1 2026
Saint-Nicolas
+3.5% above
House · EPC D · 8 Sept
Starting price
€150,000
Closing price
€206,000
Municipal median
€199,000T1 2026
Thimister-Clermont
+4.9% above
House · EPC D · 9 Sept
Starting price
€175,000
Closing price
€257,000
Municipal median
€245,000T4 2025
Maasmechelen
Eisden
+6.1% above
House · 2 Sept
Starting price
€215,000
Closing price
€260,000
Municipal median
€245,000T1 2026
Roulers
Rumbeke
+9% above
House · EPC B · 2 Sept
Starting price
€199,500
Closing price
€272,500
Municipal median
€250,000T1 2026
Charleroi
Gilly
+9.7% above
House · EPC C · 26 Aug
Starting price
€140,000
Closing price
€175,000
Municipal median
€159,500T1 2026
Fleurus
Brye
+29% above
House · EPC F · 10 Sept
Starting price
€140,000
Closing price
€271,000
Municipal median
€210,000T1 2026
Ciney
+31.4% above
Apartment · EPC A · 10 Sept
Starting price
€175,000
Closing price
€222,000
Municipal median
€169,000T1 2026
Harelbeke
+31.5% above
House · 27 Aug
Starting price
€260,000
Closing price
€288,000
Municipal median
€219,000T1 2026
Ruiselede
+32.6% above
House · EPC F · 1 Sept
Starting price
€380,000
Closing price
€464,000
Municipal median
€350,000T1 2026
Bastogne
+46% above
House · EPC G · 9 Sept
Starting price
€240,000
Closing price
€365,000
Municipal median
€250,000T1 2026
Willebroek
+47.6% above
House · EPC D · 4 Sept
Starting price
€350,000
Closing price
€465,000
Municipal median
€315,000T1 2026
Boechout
+63.2% above
House · EPC F · 9 Sept
Starting price
€650,000
Closing price
€695,000
Municipal median
€425,750T1 2026
Remicourt
Hodeige
+84.8% above
House · EPC A · 8 Sept
Starting price
€200,000
Closing price
€462,000
Municipal median
€250,000T4 2025
Namur
Malonne
+89.3% above
House · 8 Sept
Starting price
€105,000
Closing price
€511,000
Municipal median
€270,000T1 2026
Ostende
Oostende
+95.5% above
Apartment · EPC B · 26 Aug
Starting price
€250,000
Closing price
€430,000
Municipal median
€220,000T1 2026
Morlanwelz
Carnières
+97.6% above
House · EPC G · 31 Aug
Starting price
€220,000
Closing price
€336,000
Municipal median
€170,000T1 2026
Hasselt
+125.3% above
House · EPC A · 9 Sept
Starting price
€600,000
Closing price
€776,000
Municipal median
€344,500T1 2026
Beloeil
+189.2% above
House · EPC C · 3 Sept
Starting price
€340,000
Closing price
€428,000
Municipal median
€148,000T1 2026
Oupeye
Hermalle-sous-Argenteau
+214.1% above
Apartment · 10 Sept
Starting price
€450,000
Closing price
€680,000
Municipal median
€216,500T4 2025

The limit of the benchmark cuts both ways. A large property in a municipality with a low median mechanically lands above the market without being expensive, and a studio in a municipality with a high median looks discounted without being a bargain. The gap places a lot inside its local market, it does not replace a viewing.

See the 17 lots that stayed at their starting price

17 auctions ended exactly on their starting price, without a single bid. A lot nobody wanted at the opening price is very unlikely to have been awarded: it proves no discount, and it counts in none of the figures above.

3 closings below 30,000 euros are excluded as well: ruins, undivided shares, garages counted as houses. At that price level, the ratio to a municipal median no longer measures anything.

No buyer at the starting price
Closed	Municipality	Property	EPC	Starting price	Closing price	Municipal median	Gap
10 Sept	Balen	House	F	€47,000	€47,000	€350,000T1 2026	-86.6% below median
4 Sept	Vielsalm	House	F	€65,000	€65,000	€182,500T4 2025	-64.4% below median
8 Sept	Ellezelles	House	G	€120,000	€120,000	€302,500T1 2026	-60.3% below median
4 Sept	Oostkamp	House	E	€185,000	€185,000	€355,000T1 2026	-47.9% below median
4 Sept	Oostkamp	House	F	€190,000	€190,000	€355,000T1 2026	-46.5% below median
10 Sept	Lille	House	F	€227,000	€227,000	€395,000T1 2026	-42.5% below median
10 Sept	LilleWechelderzande	House	D	€245,000	€245,000	€395,000T1 2026	-38% below median
4 Sept	GavereAsper	House	F	€265,000	€265,000	€420,000T1 2026	-36.9% below median
1 Sept	NinoveAppelterre-Eichem	House	F	€190,000	€190,000	€297,500T1 2026	-36.1% below median
10 Sept	LilleGierle	House	D	€267,000	€267,000	€395,000T1 2026	-32.4% below median
8 Sept	BincheRessaix	House	G	€150,000	€150,000	€176,250T1 2026	-14.9% below median
8 Sept	BeverenBeveren-Kruibeke-Zwijndrecht	House	·	€305,000	€305,000	€325,000T1 2026	-6.2% below median
2 Sept	Molenbeek-Saint-Jean	House	G	€350,000	€350,000	€363,750T4 2025	-3.8% below median
2 Sept	EstaimpuisNéchin	House	D	€250,000	€201,000	€208,000T1 2026	-3.4% below median
8 Sept	AnversAntwerpen	House	B	€420,000	€420,000	€373,875T1 2026	+12.3% above
8 Sept	RiemstZichen-Zussen-Bolder	Apartment	A	€240,000	€240,000	€202,000T4 2025	+18.8% above
31 Aug	HonnellesAngre	House	G	€250,000	€250,000	€200,000T1 2026	+25% above

Balen
-86.6% below median
House · EPC F · 10 Sept
Starting price
€47,000
Closing price
€47,000
Municipal median
€350,000T1 2026
Vielsalm
-64.4% below median
House · EPC F · 4 Sept
Starting price
€65,000
Closing price
€65,000
Municipal median
€182,500T4 2025
Ellezelles
-60.3% below median
House · EPC G · 8 Sept
Starting price
€120,000
Closing price
€120,000
Municipal median
€302,500T1 2026
Oostkamp
-47.9% below median
House · EPC E · 4 Sept
Starting price
€185,000
Closing price
€185,000
Municipal median
€355,000T1 2026
Oostkamp
-46.5% below median
House · EPC F · 4 Sept
Starting price
€190,000
Closing price
€190,000
Municipal median
€355,000T1 2026
Lille
-42.5% below median
House · EPC F · 10 Sept
Starting price
€227,000
Closing price
€227,000
Municipal median
€395,000T1 2026
Lille
Wechelderzande
-38% below median
House · EPC D · 10 Sept
Starting price
€245,000
Closing price
€245,000
Municipal median
€395,000T1 2026
Gavere
Asper
-36.9% below median
House · EPC F · 4 Sept
Starting price
€265,000
Closing price
€265,000
Municipal median
€420,000T1 2026
Ninove
Appelterre-Eichem
-36.1% below median
House · EPC F · 1 Sept
Starting price
€190,000
Closing price
€190,000
Municipal median
€297,500T1 2026
Lille
Gierle
-32.4% below median
House · EPC D · 10 Sept
Starting price
€267,000
Closing price
€267,000
Municipal median
€395,000T1 2026
Binche
Ressaix
-14.9% below median
House · EPC G · 8 Sept
Starting price
€150,000
Closing price
€150,000
Municipal median
€176,250T1 2026
Beveren
Beveren-Kruibeke-Zwijndrecht
-6.2% below median
House · 8 Sept
Starting price
€305,000
Closing price
€305,000
Municipal median
€325,000T1 2026
Molenbeek-Saint-Jean
-3.8% below median
House · EPC G · 2 Sept
Starting price
€350,000
Closing price
€350,000
Municipal median
€363,750T4 2025
Estaimpuis
Néchin
-3.4% below median
House · EPC D · 2 Sept
Starting price
€250,000
Closing price
€201,000
Municipal median
€208,000T1 2026
Anvers
Antwerpen
+12.3% above
House · EPC B · 8 Sept
Starting price
€420,000
Closing price
€420,000
Municipal median
€373,875T1 2026
Riemst
Zichen-Zussen-Bolder
+18.8% above
Apartment · EPC A · 8 Sept
Starting price
€240,000
Closing price
€240,000
Municipal median
€202,000T4 2025
Honnelles
Angre
+25% above
House · EPC G · 31 Aug
Starting price
€250,000
Closing price
€250,000
Municipal median
€200,000T1 2026

How far to bid

Knowing that a lot is discounted is useless if you do not know where to stop. Every lot in the edition carries its bidding ceiling, computed the same way for all of them, and reproducible by hand.

01
The value once renovated
Floor area multiplied by the median price per m² of the same property type in the municipality. Without a published floor area, the municipal median for that property type serves as the reference value.
02
The renovation budget from the EPC
Belgian scale per item and per class: around 400 euros per m² for a refresh, 600 for a heavy renovation, 900 for an EPC F or G to bring back up to standard.
03
Acquisition costs, 20%
Registration duties, public auction costs, fees. At a public auction these costs are not negotiable and they sit on top of the award price.
04
A safety margin, 20%
Taken off the result. That is what separates an operation from a bet: without a margin, the first surprise on site eats the gain.

The ceiling, then the bidding room

The ceiling is the amount above which the operation stops paying. The bidding room is the distance between the starting price and that ceiling: the space you have to bid without leaving the frame.

On the first lot of the ranking

€55,000
Starting price: €199,700
Bidding ceiling: €144,700
Bidding room

Value basis : municipal median for that property type

Ceiling computed on the published data of this lot. It replaces neither a viewing nor a reading of the terms of sale.

The ceiling is not a prediction

81 / 93

We replayed the calculation on auctions that have already ended: the closing price went above the ceiling 81 times out of 93. That is not a flaw in the calculation, it is the central finding. The room bids past the point where the operation stops paying, because most bidders never set that point. The ceiling is the price above which an investor loses the margin, not an estimate of where the lot will end.

The conclusion is uncomfortable and that is the whole point: most of the time, the right decision is to let the lot go. Do not follow the room, follow your ceiling.

THE SECOND FORMAT

Properties at a posted price, where nobody outbids you.

Public institutions are shedding part of their estate. The price is set in advance and does not move: no auction, so no room full of bidders taking you past your ceiling. These properties appear on no listings portal, their sites advertise nothing, and you do not land on them by chance.

At the last survey the widest gap fitted on one line: a house listed at €78,000 in a municipality where a house sells for €227,500 at the median, that is 65.7% below the local market. On the second source: whole buildings and plots of land, sold by written offer.

These properties join the full edition at no extra cost, for anyone who already holds a seat. We do not name those sources here, and you will see why: the day everyone knows them, they are worth nothing. That is exactly the reason for the thirty seats.

70
posted-price properties at the last survey: 45
municipalities covered: 22
homes: 25
plots of land

Survey of 15 September 2026, across both sources. The count moves every week. Gaps are computed only for the 16 properties whose municipality publishes a median for the same type: a plot of land has no comparable.

The offer

One subscription, one price, the same edition for everyone.

Annual subscription

€1,000per year

The price does not change with the day you arrive. The number of subscribers is capped.

Secure payment through Stripe. First full edition on the following Monday.

Thirty seats, and that is not a figure of speech

A public auction is an auction. If thirty people receive the same ranking and go for the same lot, together they push up the very price they came for. This kind of information destroys itself when it travels too far. Once the thirty seats are taken, sign-up closes, and it reopens when a seat frees up.

Judge before you pay

The light edition goes out every Monday, free and with no time limit. You see the method, the ranking and the quality of the lots before deciding. The subscription lifts the five-lot limit and adds the address, the link to the sale and the bidding ceiling.

The full weekly edition: every public auction in the country ranked by gap, with no cap on the number of lots.
The bidding ceiling for every lot, with the renovation budget used, the estimated rent and the gross yield at the ceiling.
The fact sheet for every lot: address, link to the sale, EPC, floor area, bedrooms, opening and closing dates.
The terms of sale read and labelled, including the auctions that exclude investors.
A filter by province and by budget, set up with you.

Why nobody else can do this

This service rests on parts that are already built, and that take months to rebuild.

The medians of all 581 municipalities, joined down to districts
The Statbel median price base for the 581 Belgian municipalities, by property type and by quarter, kept up to date and joined to every auction by postcode, down to district level: 1,186 postcodes. An auction listing carries a locality, often a former merged municipality; without that join it is compared with the wrong market.
A history of closings that Biddit does not publish
Every public auction in the country is recorded daily and the closings are kept. Biddit shows live auctions; the cumulative history of closing prices is published by nobody.
A published, verifiable ceiling method
Renovated value, works from the EPC, acquisition costs, safety margin: the calculation is written on this page and can be redone by hand on any lot.
Public tracking of awards
Every flagged lot is followed to its award and the result is published: flagged at this price, awarded at that price. A method that gets it wrong eventually shows.
A Belgian scale of renovation costs
Renovation budgets come from a scale per item and per EPC class built on the Belgian market, not from an imported average.
No commission, no tie
No notary, no platform, no agent: nothing is taken on any sale. The subscription is the only revenue, and the only interest is that the measurement is right.

What Pépites is not

It is not buying advice
We publish a measured gap and a computed ceiling, not a recommendation. We do not enter the properties, we do not survey them, and a favourable gap guarantees no capital gain. The decision and the checks remain yours.
Bidding pushes prices up
The starting price is an opening point. On the auctions we followed to the end, the price rose by +26.4% at the median between the starting price and the close. The gap shown at the start is never the final gap.
A discounted property usually hides something
Heavy renovation, EPC F or G, sitting tenant, undivided share, easement. That is precisely why the fact sheet carries the EPC, the floor area and the terms of sale: to rule out fast, not to buy fast.
It is not privileged access
The auctions are public and open to everyone on Biddit. We reserve nothing and we negotiate nothing. What the subscription buys is the sorting, the costing and the time, not a privilege.

Where the lots are this week

Sessions: 107 open, 85 close within 7 days.Week of 14 September 2026.

517 residential public auctions were live at the survey of 15 September 2026, spread as follows.

Antwerp82
East Flanders82
Brussels65
Flemish Brabant64
West Flanders46
Limburg43
Liège42
Hainaut38
Namur21
Luxembourg19
Walloon Brabant15

Frequently asked questions

Bidding pushes prices up, so doesn't the discount vanish?: It does push prices up, and we measure it: +26.4% median increase from starting price to closing price. And yet 67 of the 88 measured closed auctions sold below their municipality's median, with a median final gap of -29.4%. The discount shrinks during bidding, it does not always disappear. On the 21 others, the price went above the municipal median, and those auctions are in the table.
You need cash very fast, right?: Yes, and that is the real barrier to entry in this market. In an online public auction you must be able to pay within the deadlines of the terms of sale, often a few weeks, with a bank agreement already in place or your own funds. Pépites tells you where to look and how far to go, it does not finance. If your financing is not ready, the subscription is premature.
I know nothing about public auctions.: The edition is not a course, but it reads without experience: every fact sheet links to the sale on Biddit, where the terms of sale and the acting notary are listed, and the notary answers questions and arranges viewings. What you need to understand before a first bid fits in one reading of the terms of sale. If that is your only obstacle, start with the light edition: it is free and it arrives every Monday.
Why 1,000 euros?: Because it is the price of a working tool, not of a newsletter: a daily survey of every public auction in the country, a maintained database of municipal prices, a bidding ceiling computed lot by lot, and the reading of the terms of sale. One lot avoided at the wrong price, or one lot taken at the right one, covers the year. If you never buy at public auction, this subscription is worth nothing to you: do not take it.
Where exactly does the data come from?: Public auctions are recorded on Biddit, the official platform of Belgian notaries. Reference prices come from Statbel, the Belgian statistical office, which publishes real notarial deed prices per municipality and property type. It is the same data as on the Immolytics price pages, with no proprietary reprocessing.
Can I cancel?: Yes, at any time. The subscription ends at the close of the paid period, and the free light edition can be left in one click from any issue.

To prepare a bid

The Immolytics tools and data that matter before you bid.

The public auctions that sell below the real price of their municipality.

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What you receive every week

The ranking of gaps

One fact sheet, field by field

Do these properties really sell below the market price?

How far to bid

The value once renovated

The renovation budget from the EPC

Acquisition costs, 20%

A safety margin, 20%

The ceiling, then the bidding room

The ceiling is not a prediction

Properties at a posted price, where nobody outbids you.

The offer

Why nobody else can do this

The medians of all 581 municipalities, joined down to districts

A history of closings that Biddit does not publish

A published, verifiable ceiling method

Public tracking of awards

A Belgian scale of renovation costs

No commission, no tie

What Pépites is not

It is not buying advice

Bidding pushes prices up

A discounted property usually hides something

It is not privileged access

Where the lots are this week

Frequently asked questions

To prepare a bid