Investing in an apartment in Brussels in 2026: yield, tax and good habits

Brussels holds a central place in the Belgian rental market: according to IBSA (the Brussels Institute for Statistics and Analysis), rents there rose faster than the cost of living between 2011 and 2024. For a private investor, however, the appeal of an apartment cannot be measured by the advertised rent alone. The purchase price, registration duties (droits d'enregistrement), tax, the lease framework and energy performance weigh just as heavily on the final result. Here are the figures and rules in force in October 2026.

The market in figures: prices and rents

Purchase prices

According to the notaries' barometer (Fednot) published on 13 October 2026, the average apartment sold for €301,666 in the Brussels-Capital Region over the first nine months of 2026, +1.7% on the 2025 average. The number of apartment sales rose by 1.2% year on year in the third quarter. The market is therefore stable, with no runaway price growth.

In its Cahier no. 16 (April 2026), IBSA notes that over fifteen years apartment prices have risen by around 15% in Brussels, compared with 20% to 24% in Ghent and Antwerp. Conversely, in 2024 the median rent on new Brussels leases was 18% higher than in Flanders and 31% higher than in Wallonia.

Rents

The rental barometer of Federia (the federation of French-speaking estate agents) provides the following benchmarks:

• 2025: an average apartment rent in Brussels of around €1,290 a month (+3.4%). A one-bedroom apartment let for around €1,082 on average, while a two-bedroom approached €1,500.
• First half of 2026: an average rent across all property types of €1,401 (+1.5%), with the median rent stable at €1,250. Uccle (€1,545) is among the most expensive municipalities for an apartment, behind Woluwe-Saint-Pierre (€1,608).

€301,666: the average price of an apartment sold in the Brussels-Capital Region over the first nine months of 2026 (Fednot).

Gross and net yield: an illustrative calculation

There is no official statistic for rental yields in Brussels. The figures in circulation come from private players and vary according to method. The most reliable approach is to do the calculation yourself. The example below combines published averages (Fednot for the price, Federia for the rent). The costs are assumptions, to be replaced with the actual figures for the property.

• ⊞ Item | Annual or total amount | Comment
• Purchase price | €300,000 | Close to the 2026 Fednot average
• Registration duties (12.5%) | €37,500 | No abatement for a property bought to let
• Deed costs and fees (assumption) | €5,000 | To be costed by the notary
• Total acquisition cost | €342,500 |
• Annual rent (€1,290 × 12) | €15,480 | Federia 2025 average for an apartment
• Withholding tax on property (assumption) | - €1,450 | Depends on the cadastral income and the municipality
• Non-recoverable service charges (assumption) | - €600 |
• Non-occupying landlord's insurance (assumption) | - €200 |
• Maintenance and repairs (assumption) | - €800 |
• One month's vacancy (assumption) | - €1,290 |
• Net income before tax | €11,140 |

In this example:

• the gross yield on the price is 15,480 / 300,000 = 5.2%;
• the gross yield on the total cost falls to 15,480 / 342,500 = 4.5%;
• the net yield before tax is 11,140 / 342,500 = 3.3%.

The gap between the advertised gross yield and the actual net yield therefore often exceeds two percentage points. You also need to factor in income tax (see below) and, if you borrow, the cost of the loan. These figures are averages: a well-located, energy-efficient apartment in good condition can let above the average and see fewer vacant periods.

Taxation of rental income

Income tax: based on cadastral income, not rent

When a private individual lets a home to a private individual who occupies it for private purposes, they are not taxed on the rent actually received. The taxable base is the indexed cadastral income (revenu cadastral, RC), increased by 40%. It is added to your other income and taxed at your marginal rate of personal income tax, plus municipal surcharges (centimes additionnels).

The indexation coefficient for cadastral income is 2.2446 for 2025 income (tax year 2026) and 2.3000 for 2026 income (tax year 2027). Example for a non-indexed cadastral income of €1,100:

• taxable base (2026 income): 1,100 × 2.3000 × 1.40 = €3,542;
• at a marginal rate of 45%, plus a 7% municipal surcharge, the tax comes to around €1,705.

In the yield example above, net income after tax would thus be around €9,435, or 2.75% of the total cost. This regime remains favourable: here, the tax amounts to around 11% of the gross rent.

The regime changes if the tenant is a company or uses the property for business purposes. The base then becomes the actual rent, less a flat-rate 40% allowance for costs (capped), and cannot be lower than the indexed cadastral income increased by 40%.

End of the mortgage interest deduction

An important point for investors who borrow: the ordinary interest deduction for properties other than your own home was abolished under the federal coalition agreement, with effect from 2025 income, regardless of when the loan was taken out and with no transitional measures. Interest on a loan taken out to buy a let apartment therefore no longer reduces your tax. Make sure this is reflected in your financing plan.

Withholding tax on property

In Brussels, the withholding tax on property (précompte immobilier) is calculated on the indexed cadastral income, at a basic regional rate of 1.25%, multiplied by the surcharges of the conurbation and the municipality. In 2026, municipal surcharges average around 3,600 centimes across the 19 municipalities, according to La Libre. Nine municipalities raised their share in 2026; Woluwe-Saint-Lambert is the only one to have reduced it (from 3,190 to 3,175 centimes). In practice, the withholding tax often represents more than half of the indexed cadastral income: ask for the latest tax assessment notice (avertissement-extrait de rôle) before you buy.

The legal framework for letting in Brussels

The main-residence lease

Residential leases are governed by the Brussels Housing Code (Code bruxellois du Logement). The key rules:

• Term: a main-residence lease (bail de résidence principale) is in principle concluded for 9 years. Short-term leases (3 years maximum) are possible, subject to conditions.
• Registration: every residential lease must be registered within two months of signature. This is also a condition for indexation.
• Rental deposit: for leases concluded or renewed since 1 November 2024, it may not exceed two months' rent, whatever form it takes.
• Inventory of fixtures (état des lieux): this must be drawn up jointly by both parties and in detail.

The rent reference grid and excessive rents

The Region publishes an indicative rent reference grid (grille indicative des loyers, loyers.brussels). It takes account of location, condition, floor area and number of rooms. It is not binding: rent is still freely set on the private market. However:

• the reference rent must be stated in the lease, alongside the actual rent;
• a rent is presumed abusive if it exceeds the reference rent by more than 20%, unless the landlord can justify particular features of comfort;
• since 1 May 2025, landlords have been prohibited from charging an excessive rent. Tenants can request a review by applying to the Joint Rental Committee (Commission paritaire locative), whose opinion is non-binding, and then, if necessary, to the justice of the peace (juge de paix).

The Brussels government that took office in February 2026 has confirmed a reform of the grid, based on median rents by neighbourhood. It has also announced incentives for landlords who voluntarily adopt the reference rents. Their form is not yet known.

Indexation and the EPB certificate

Annual indexation of the rent is possible if the lease does not exclude it, if it is in writing and registered, and if the landlord has provided the tenant with a valid EPB certificate (certificat PEB). It is not automatic: it must be requested in writing, with retroactive effect limited to three months. The formula is: base rent × new health index / starting index.

The EPB-linked freeze ended on 14 October 2023. Between 14 October 2022 and 13 October 2023, indexation was limited to 50% for homes rated E and prohibited for classes F and G. Since then, all homes may be indexed. A correction factor nonetheless applies to leases that took effect before 14 October 2022 for homes rated E, F or G or without a valid EPB certificate: it permanently neutralises part of the indexation not collected during the freeze. Brussels Housing (Bruxelles Logement) provides a calculator that incorporates these rules.

Good habits before investing

• Calculate the yield on the total cost, including duties and fees, not on the price alone.
• Check that your target rent is consistent with the reference grid: more than 20% above it, you must be able to justify features of comfort.
• Look closely at the EPB rating. Beyond indexation, a regional timetable is on the way: every home will have to hold a valid EPB certificate by 1 July 2033, and consumption ceilings are planned in the longer term (275 kWh/m²/year within ten years, then 150 kWh/m²/year within twenty years, according to the analysis published by LexGO in April 2026). An energy-efficient property limits this regulatory risk.
• Obtain the property's cadastral income and withholding tax, together with the co-ownership service-charge statements and the minutes of general meetings (works voted, reserve fund).
• Factor in the cost of financing with no tax deduction for interest, against a backdrop of rates rising since spring 2026.
• Set aside a reserve for vacancies and maintenance, even in a renovated property.

This article is provided for information only and reflects the rules and data available as at 21 October 2026. It does not constitute personalised financial, tax or legal advice. Before making any investment, have your project checked by your notary, your bank and a tax adviser.

Sources

• notaire.be (Fednot), "Immobilier du 3e trimestre 2026 : le marché se rafraîchit, la moyenne des prix en hausse", 13/10/2026: notaire.be
• IBSA, press release on Cahier no. 16 on the geography of rents and prices, 23/04/2026: ibsa.brussels
• BX1, Federia 2025 rental barometer, 04/09/2025: bx1.be
• L'Avenir, rents by municipality and number of bedrooms (Federia), 04/09/2025: lavenir.net
• BX1, Federia barometer for the first half of 2026, 11/09/2026: bx1.be
• BDO, cadastral income indexation coefficients (2.2446 and 2.3000), 2026: bdo.be
• RSM Belgium, "Aperçu de l'immobilier belge 2025" (indexed cadastral income increased by 40%, business letting): rsm.global
• Forum for the Future, "Déclaration fiscale 2026 : l'investisseur au cœur de l'Arizona" (abolition of the ordinary interest deduction): forumforthefuture.be
• La Libre, breakdown of the Brussels withholding tax on property, 08/03/2026: lalibre.be
• BX1, municipal surcharges for 2026, 05/08/2026: bx1.be
• Brussels Housing (Bruxelles Logement): bail d'habitation, garantie locative, loyers de référence, indexation des loyers
• Dewaele, indexation correction factors in Brussels: dewaele.com
• La Libre, housing measures of the new Brussels coalition, 21/02/2026: lalibre.be
• LexGO (Andersen), EPB certificate compulsory for every building by 1 July 2033, 07/04/2026: lexgo.be

Investing in a renovated apartment

Living Home Promotion buys older buildings in Brussels and has them fully renovated by its partner Next Homes before selling the apartments, in Woluwe-Saint-Lambert, Forest and Uccle. For an investor, a renovated property means you know its technical and energy characteristics from the outset, and these determine both indexation and rental appeal. Information on each project is available on our property projects page, and our team will be happy to answer your questions.