Mechelen – Rental prices in Mechelen have surpassed €1,000 per month, with new projects such as Keerdok, Komet, and Maarten contributing to the increased supply. Experts Stijn Liers and Sophie Vandewalle emphasize the high demand for modern, quality apartments, reports 24brussels.
According to GVA News, rents in Mechelen are now averaging just over €1,000, making it the third city in Flanders, after Antwerp and Leuven, where apartment rents in the city center exceed this threshold, as indicated by the Rental Barometer from the real estate network GIB.
Stijn Liers from Malines Group notes, however, that not every apartment commands such high prices. “A one-bedroom apartment of around sixty square meters usually rents for between €800 and €900,” he states. New two-bedroom apartments frequently reach between €1,000 and €1,100.
The rise in rental prices is linked to significant urban development projects like Keerdok, Komet, and Maarten, which have introduced many new apartments to the market. Investors are drawn to these initiatives and sometimes purchase entire buildings, further impacting the market.
Underlying Factors Behind Rising Rents in Mechelen
The escalation of rents is influenced by a combination of supply, demand, and apartment quality. Many tenants prefer to pay €1,000 for a modern, well-maintained apartment rather than €750 for an older, less desirable unit.
“The overall quality of apartments has improved, and that is a major factor in price,” Liers explains.
High-end properties in the city center also elevate average rental rates, with penthouse apartments renting for as much as €2,500 per month. “Mechelen’s housing stock has undergone significant renovations in recent years. However, even older apartments have become more expensive due to shortages,” he adds.
“That’s how many projects are starting to become available for rent. We ourselves have fully rented out Nieuw Noord, a new building with 35 apartments at Racing Mechelen, at the owner’s request,” Liers mentions.
Sophie Vandewalle of Immo Sir highlights a clear trend in the rental market, indicating that tenants are increasingly willing to pay higher rents for properties with quality features. “Rents are rising sharply,” she remarks. Properties boasting good energy performance certificates, modern kitchens, and bathrooms are especially attractive to renters.
Vandewalle also observes a consistent influx of interest from young couples with dual incomes working in the nearby cities of Antwerp, Brussels, and Leuven. “Many of them are moving to Mechelen, which creates a competitive rental market,” she states.
“It’s very difficult for some tenants to even qualify for housing. Owners have a choice, and they select the strongest candidates with the best cover letters,” says Arthur Orlians (Voor Mechelen), Alderman for Housing.
Recognizing the pressure on the housing market, the city council is responding with a housing policy plan to address rising rents and demand. Alderman Orlians emphasizes that there is no singular solution. “We need to increase housing density and create more supply if we want prices to drop or stabilize,” he explains. While Mechelen plans to enhance its social housing offerings, this alone will not suffice.
“Many people are not eligible for social housing, and they also struggle to find affordable housing. That is why we are introducing as many new initiatives as possible,” Orlians adds.
Mechelen has been grappling with growing pressure on its housing market over the past few years. Its strategic location between Antwerp, Brussels, and Leuven attracts many young professionals and dual-income households. Rental prices have steadily risen since 2020, with a notable increase observed in 2023 as demand surged.
In early 2024, the municipal government launched a housing policy plan aimed at addressing these challenges, focusing on increasing housing density, expanding social housing, and implementing new measures to assist residents who do not qualify for social housing.
