{
  "id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "generated_at": "2026-07-15T09:22:26.211274+00:00",
  "last_refresh": "2026-07-13",
  "source": "ECB MIR monthly new housing loans adjusted with Eurostat total dwelling house price index, and Eurostat residential building permit data; mortgage series smoothed with a 3-month moving average before rebasing and weighting.",
  "source_description": "Monthly Belgium housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
  "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
  "meta": {
    "indicator_name": "Belgium Housing Market Activity",
    "indicator_description": "Monthly Belgium housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "title": "Belgium Housing Market Activity",
    "description": "Monthly Belgium housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "source": "ECB MIR monthly new housing loans adjusted with Eurostat total dwelling house price index, and Eurostat residential building permit data; mortgage series smoothed with a 3-month moving average before rebasing and weighting.",
    "source_description": "Monthly Belgium housing market activity indicator based on a weighted combination of new mortgage lending and residential building permits, indexed to 2019 = 100.",
    "visibility": "paid",
    "updated_at": "2026-07-13T10:34:51.038196Z",
    "last_refresh": "2026-07-13",
    "table_id": "macro_economics/housing/europe_housing_market_activity_monthly",
    "topic": "Macroeconomics",
    "subtopic": "Housing",
    "geo": [
      "BE"
    ],
    "geo_included": [
      "BE"
    ],
    "page_slug": "belgium-housing-market-activity",
    "page_url": "/indicators/macroeconomics/housing/belgium-housing-market-activity/",
    "chart_type": "line",
    "series_type": "single",
    "frequency": "monthly",
    "units": "Index (2019 = 100)",
    "legend": false,
    "featured_topic": true,
    "featured_subtopic": true,
    "featured_rank_topic": 5,
    "featured_rank_subtopic": 2,
    "chart_title": "Belgium Housing Market Activity",
    "y_axis_label": "Index [2019=100]",
    "related_indicators": [
      {
        "title": "Belgium Furniture Market Hub",
        "url": "/market/belgium-furniture-market-hub/",
        "label": "Market hub"
      },
      {
        "title": "Belgium Furniture Retail Market Size",
        "url": "/indicators/retail/market-size/belgium-furniture-retail-turnover/",
        "label": "Retail"
      },
      {
        "title": "Belgium Furniture Consumer Market Size",
        "url": "/indicators/retail/market-size/belgium-furniture-consumer-market-size/",
        "label": "Market size"
      },
      {
        "title": "Netherlands Housing Market Activity",
        "url": "/indicators/macroeconomics/housing/netherlands-housing-market-activity/",
        "label": "Housing"
      }
    ],
    "taxonomy_path": [
      "macroeconomics",
      "housing",
      "market-activity"
    ],
    "taxonomy_labels": [
      "Macroeconomics",
      "Housing",
      "Market activity"
    ],
    "taxonomy_nodes": [
      {
        "id": "macroeconomics",
        "label": "Macroeconomics",
        "has_page": true,
        "sort_order": 30
      },
      {
        "id": "housing",
        "label": "Housing",
        "has_page": true,
        "sort_order": 20
      },
      {
        "id": "market-activity",
        "label": "Market activity",
        "has_page": false,
        "sort_order": 10
      }
    ],
    "taxonomy_page_path": [
      "macroeconomics",
      "housing"
    ],
    "taxonomy_page_labels": [
      "Macroeconomics",
      "Housing"
    ],
    "taxonomy_collection": "market-activity",
    "taxonomy_collection_label": "Market activity",
    "entity": {
      "type": "country",
      "geo": [
        "BE"
      ]
    },
    "methodology_url": "/about/methodology/housing-market-activity/",
    "methodology_label": "Housing Market Activity Methodology",
    "data_hash": "42b6228ee557513d519e4b689e1a7d44a7bd844969ec3806d77d7cf770b04594",
    "trend_summary": "The Belgium housing market activity indicator shows distinct phases over the observed period. After peaking at 125.6 in December 2019, the index experienced a notable decline, reaching a low of 58.2 in March 2024. The latest level, at 70.6, remains below the historical average, indicating a subdued market compared to the 2019 baseline. Recent momentum appears positive, with year-over-year increases of 0.1%, 4.5%, and 7.9% over the past 3, 6, and 12 months, respectively, suggesting a gradual recovery. Broadly, the market showed strength in 2019 and 2021, with a downturn evident in 2022 and 2023.",
    "trend_summary_generated_at": "2026-07-15T09:22:37.078204+00:00",
    "key_findings": [
      "Belgium housing activity remains subdued, suggesting a cautious backdrop for furniture and home-related demand.",
      "Recent sideways movement keeps the housing cycle fragile, with no clear new impulse in sight.",
      "Read alongside Belgium Furniture Retail Market Size, the housing index at 70.6 in March 2024 points to a cautious demand outlook."
    ],
    "key_findings_source": "ai_rewrite",
    "key_findings_generated_at": "2026-07-15T09:22:44.258027+00:00",
    "chart_alt_text": "Line chart for Belgium Housing Market Activity in index points. The series runs from 2017-01-01 to 2026-03-01; the latest value is 70.6 index points. The peak is 125.6 index points in 2019-12-01."
  },
  "data": [
    {
      "date": "2017-01-01",
      "geo": "BE",
      "value": 110.45
    },
    {
      "date": "2017-02-01",
      "geo": "BE",
      "value": 105.46
    },
    {
      "date": "2017-03-01",
      "geo": "BE",
      "value": 100.97
    },
    {
      "date": "2017-04-01",
      "geo": "BE",
      "value": 93.91
    },
    {
      "date": "2017-05-01",
      "geo": "BE",
      "value": 91.57
    },
    {
      "date": "2017-06-01",
      "geo": "BE",
      "value": 94.4
    },
    {
      "date": "2017-07-01",
      "geo": "BE",
      "value": 81.99
    },
    {
      "date": "2017-08-01",
      "geo": "BE",
      "value": 78.83
    },
    {
      "date": "2017-09-01",
      "geo": "BE",
      "value": 85.61
    },
    {
      "date": "2017-10-01",
      "geo": "BE",
      "value": 90.69
    },
    {
      "date": "2017-11-01",
      "geo": "BE",
      "value": 87.6
    },
    {
      "date": "2017-12-01",
      "geo": "BE",
      "value": 87.88
    },
    {
      "date": "2018-01-01",
      "geo": "BE",
      "value": 87.47
    },
    {
      "date": "2018-02-01",
      "geo": "BE",
      "value": 95.62
    },
    {
      "date": "2018-03-01",
      "geo": "BE",
      "value": 98.68
    },
    {
      "date": "2018-04-01",
      "geo": "BE",
      "value": 99.85
    },
    {
      "date": "2018-05-01",
      "geo": "BE",
      "value": 106.62
    },
    {
      "date": "2018-06-01",
      "geo": "BE",
      "value": 90.92
    },
    {
      "date": "2018-07-01",
      "geo": "BE",
      "value": 88.09
    },
    {
      "date": "2018-08-01",
      "geo": "BE",
      "value": 88.23
    },
    {
      "date": "2018-09-01",
      "geo": "BE",
      "value": 87.31
    },
    {
      "date": "2018-10-01",
      "geo": "BE",
      "value": 87.67
    },
    {
      "date": "2018-11-01",
      "geo": "BE",
      "value": 95.68
    },
    {
      "date": "2018-12-01",
      "geo": "BE",
      "value": 96.16
    },
    {
      "date": "2019-01-01",
      "geo": "BE",
      "value": 88.1
    },
    {
      "date": "2019-02-01",
      "geo": "BE",
      "value": 85.45
    },
    {
      "date": "2019-03-01",
      "geo": "BE",
      "value": 86.32
    },
    {
      "date": "2019-04-01",
      "geo": "BE",
      "value": 87.67
    },
    {
      "date": "2019-05-01",
      "geo": "BE",
      "value": 88.53
    },
    {
      "date": "2019-06-01",
      "geo": "BE",
      "value": 96.03
    },
    {
      "date": "2019-07-01",
      "geo": "BE",
      "value": 106.4
    },
    {
      "date": "2019-08-01",
      "geo": "BE",
      "value": 106.17
    },
    {
      "date": "2019-09-01",
      "geo": "BE",
      "value": 110.64
    },
    {
      "date": "2019-10-01",
      "geo": "BE",
      "value": 108.24
    },
    {
      "date": "2019-11-01",
      "geo": "BE",
      "value": 110.87
    },
    {
      "date": "2019-12-01",
      "geo": "BE",
      "value": 125.57
    },
    {
      "date": "2020-01-01",
      "geo": "BE",
      "value": 121.3
    },
    {
      "date": "2020-02-01",
      "geo": "BE",
      "value": 113.04
    },
    {
      "date": "2020-03-01",
      "geo": "BE",
      "value": 89.39
    },
    {
      "date": "2020-04-01",
      "geo": "BE",
      "value": 79.7
    },
    {
      "date": "2020-05-01",
      "geo": "BE",
      "value": 77.49
    },
    {
      "date": "2020-06-01",
      "geo": "BE",
      "value": 80.52
    },
    {
      "date": "2020-07-01",
      "geo": "BE",
      "value": 90.6
    },
    {
      "date": "2020-08-01",
      "geo": "BE",
      "value": 94.62
    },
    {
      "date": "2020-09-01",
      "geo": "BE",
      "value": 87.95
    },
    {
      "date": "2020-10-01",
      "geo": "BE",
      "value": 99.09
    },
    {
      "date": "2020-11-01",
      "geo": "BE",
      "value": 105.64
    },
    {
      "date": "2020-12-01",
      "geo": "BE",
      "value": 109.94
    },
    {
      "date": "2021-01-01",
      "geo": "BE",
      "value": 108.39
    },
    {
      "date": "2021-02-01",
      "geo": "BE",
      "value": 102.84
    },
    {
      "date": "2021-03-01",
      "geo": "BE",
      "value": 105.25
    },
    {
      "date": "2021-04-01",
      "geo": "BE",
      "value": 105.39
    },
    {
      "date": "2021-05-01",
      "geo": "BE",
      "value": 110.82
    },
    {
      "date": "2021-06-01",
      "geo": "BE",
      "value": 114.91
    },
    {
      "date": "2021-07-01",
      "geo": "BE",
      "value": 117.84
    },
    {
      "date": "2021-08-01",
      "geo": "BE",
      "value": 102.6
    },
    {
      "date": "2021-09-01",
      "geo": "BE",
      "value": 99.12
    },
    {
      "date": "2021-10-01",
      "geo": "BE",
      "value": 97.83
    },
    {
      "date": "2021-11-01",
      "geo": "BE",
      "value": 93.27
    },
    {
      "date": "2021-12-01",
      "geo": "BE",
      "value": 97.19
    },
    {
      "date": "2022-01-01",
      "geo": "BE",
      "value": 95.33
    },
    {
      "date": "2022-02-01",
      "geo": "BE",
      "value": 95.9
    },
    {
      "date": "2022-03-01",
      "geo": "BE",
      "value": 101.72
    },
    {
      "date": "2022-04-01",
      "geo": "BE",
      "value": 91.42
    },
    {
      "date": "2022-05-01",
      "geo": "BE",
      "value": 96.08
    },
    {
      "date": "2022-06-01",
      "geo": "BE",
      "value": 91.22
    },
    {
      "date": "2022-07-01",
      "geo": "BE",
      "value": 87.67
    },
    {
      "date": "2022-08-01",
      "geo": "BE",
      "value": 88.15
    },
    {
      "date": "2022-09-01",
      "geo": "BE",
      "value": 83.08
    },
    {
      "date": "2022-10-01",
      "geo": "BE",
      "value": 80.45
    },
    {
      "date": "2022-11-01",
      "geo": "BE",
      "value": 79.69
    },
    {
      "date": "2022-12-01",
      "geo": "BE",
      "value": 77.79
    },
    {
      "date": "2023-01-01",
      "geo": "BE",
      "value": 73.98
    },
    {
      "date": "2023-02-01",
      "geo": "BE",
      "value": 71.35
    },
    {
      "date": "2023-03-01",
      "geo": "BE",
      "value": 64.33
    },
    {
      "date": "2023-04-01",
      "geo": "BE",
      "value": 65.12
    },
    {
      "date": "2023-05-01",
      "geo": "BE",
      "value": 66.22
    },
    {
      "date": "2023-06-01",
      "geo": "BE",
      "value": 65.73
    },
    {
      "date": "2023-07-01",
      "geo": "BE",
      "value": 69.69
    },
    {
      "date": "2023-08-01",
      "geo": "BE",
      "value": 61.38
    },
    {
      "date": "2023-09-01",
      "geo": "BE",
      "value": 64.29
    },
    {
      "date": "2023-10-01",
      "geo": "BE",
      "value": 69.22
    },
    {
      "date": "2023-11-01",
      "geo": "BE",
      "value": 68.76
    },
    {
      "date": "2023-12-01",
      "geo": "BE",
      "value": 70.38
    },
    {
      "date": "2024-01-01",
      "geo": "BE",
      "value": 60.28
    },
    {
      "date": "2024-02-01",
      "geo": "BE",
      "value": 66.36
    },
    {
      "date": "2024-03-01",
      "geo": "BE",
      "value": 58.17
    },
    {
      "date": "2024-04-01",
      "geo": "BE",
      "value": 60.07
    },
    {
      "date": "2024-05-01",
      "geo": "BE",
      "value": 58.43
    },
    {
      "date": "2024-06-01",
      "geo": "BE",
      "value": 66.33
    },
    {
      "date": "2024-07-01",
      "geo": "BE",
      "value": 68.22
    },
    {
      "date": "2024-08-01",
      "geo": "BE",
      "value": 66.8
    },
    {
      "date": "2024-09-01",
      "geo": "BE",
      "value": 66.14
    },
    {
      "date": "2024-10-01",
      "geo": "BE",
      "value": 67.35
    },
    {
      "date": "2024-11-01",
      "geo": "BE",
      "value": 71.38
    },
    {
      "date": "2024-12-01",
      "geo": "BE",
      "value": 69.49
    },
    {
      "date": "2025-01-01",
      "geo": "BE",
      "value": 70.03
    },
    {
      "date": "2025-02-01",
      "geo": "BE",
      "value": 70.94
    },
    {
      "date": "2025-03-01",
      "geo": "BE",
      "value": 68.67
    },
    {
      "date": "2025-04-01",
      "geo": "BE",
      "value": 70.46
    },
    {
      "date": "2025-05-01",
      "geo": "BE",
      "value": 70.06
    },
    {
      "date": "2025-06-01",
      "geo": "BE",
      "value": 71.83
    },
    {
      "date": "2025-07-01",
      "geo": "BE",
      "value": 72.59
    },
    {
      "date": "2025-08-01",
      "geo": "BE",
      "value": 72.12
    },
    {
      "date": "2025-09-01",
      "geo": "BE",
      "value": 73.39
    },
    {
      "date": "2025-10-01",
      "geo": "BE",
      "value": 72.76
    },
    {
      "date": "2025-11-01",
      "geo": "BE",
      "value": 73.29
    },
    {
      "date": "2025-12-01",
      "geo": "BE",
      "value": 80.73
    },
    {
      "date": "2026-01-01",
      "geo": "BE",
      "value": 71.71
    },
    {
      "date": "2026-02-01",
      "geo": "BE",
      "value": 67.54
    },
    {
      "date": "2026-03-01",
      "geo": "BE",
      "value": 70.57
    }
  ]
}