Many things may have gone wrong in the last decade but certainly not the expansion of the economic activity which has grown every year by 2.978% in average since 2010 (data Banque Mondiale). Sad to say but this is unlikely to happen for 2020. The abrupt appearance of the Covid-19 pandemic will most likely reverse the current trend as the virus constrained many countries to put in place lockdown measures to preserve the public health at the expense of the economy.
Likewise, the collapse of the economic activity can have a major impact on the real estate market in Belgium. Up to now, the Belgian government is supporting the companies and the households going through the crisis with measures such as the partial unemployment. Real estate not being an exception, the prices are driven by the laws of supply and demand and on the long run, it is likely that some people will lose their job and have lower revenues negatively impacting the demand. At the same time, some other people will be unable to pay off their mortgage which will lead to an increase in supply.