No. The latest full-year data, 2025 read into 2026, shows the opposite: Walloon houses rose 15.4% and apartments 7.2% (source: Notaire.be, February 2026), on high transaction volumes. Prices are climbing, not falling, in a seller-favourable market.
The premise of the question does not match the figures. Far from falling, the median Walloon house rose 15.4% in 2025 to 240,000 euros, and apartments added 7.2%, according to Notaire.be data published in February 2026. Every province recorded gains, from Luxembourg province’s 17% at the top to steady double digits elsewhere. There is no sign of a decline in the most recent complete year.
Two facts rule out a hidden slump. First, prices rose while transaction volumes also rose, around 16% to 17% in the Liège and Namur provinces (source: Fednot, 2026). Falling markets typically show the reverse, thin activity and softening prices. Second, the counter-intuitive driver was the 3% registration-duty reform on an own and sole home, in force since 1 January 2025, which enlarged buyers’ budgets and deepened demand rather than cooling it.
Where does the “falling prices” worry come from? Often from mortgage-rate fears. But Belgian fixed rates have been stable at around 3% to 3.5% over 20 to 25 years (source: Batibouw and brokers, 2026), not historically high, so financing has not choked demand.
None of this means every home rises at 15%. Poorly energy-rated properties (a weak PEB) can lag or even slip in price, because Wallonia caps rent indexation on F and G ratings, which dents their appeal. Condition and PEB, not the overall market, are what put an individual property at risk.
At a glance
- Direction: rising, not falling; houses +15.4%, apartments +7.2% in 2025 (source: Notaire.be, Feb 2026).
- Volumes: up about 16% to 17% in Liège and Namur (source: Fednot, 2026), the opposite of a slump.
- Rates: stable around 3% to 3.5%, not historically high (source: Batibouw/brokers, 2026).
- Catalyst: 3% own-home registration reform since 1 January 2025.
- Real risk to a single home: a poor PEB (F or G) can lag the market.
- Verdict: seller-favourable, no region-wide decline in the data.