Housing: a structural crisis without a political response

A market under extreme pressure

Housing in Brussels has been in structural crisis for years. The absence of a regional government since June 2024 has turned a difficult situation into a deadlock: no new programme can be launched, no major investment decided, no reform adopted.

The historic waiting list

At the end of 2025, 62,234 households are registered on the waiting list for social housing — an all-time record. This represents 10% of all Brussels households. The average waiting time is 9 to 13 years depending on the type of housing requested.

The Brussels social housing stock comprises approximately 42,000 dwellings, managed by 16 Public Service Real Estate Companies (SISPs). The ratio is simple: there are more households waiting than existing dwellings.

The rent gap

The gulf between the social and private markets illustrates the urgency:

• Average social rent: EUR 412/month (end of 2024)
• Average private rent: EUR 1,321/month (first half of 2025, +5% year-on-year)
• For a one-bedroom apartment: approximately EUR 1,110/month at the start of 2026

Half of Brussels households meet the eligibility criteria for social housing. Supply covers only a fraction of demand.

The Housing Fund at a standstill

On 1 July 2025, the Housing Fund suspended all new credit applications. The caretaker government refused a loan of EUR 50 million, with the budget minister citing the refusal to increase Brussels' debt.

Services suspended then partially resumed

On 1 July 2025, all credits were suspended. Since 2 January 2026, Ecoreno credits (energy renovation) have been reopened thanks to targeted refinancing. The following remain suspended until at least 31 March 2026:

• Home purchase mortgages
• ECORENO consumer credits
• Investment credits for co-ownerships

Approximately 50,000 households in Brussels waiting for affordable housing are directly affected. Around twenty employees in the credit department were placed on temporary unemployment.

Banking pressure

In November 2024, Belfius withdrew a EUR 500 million credit line from the Housing Fund. Other banks refused tenders "to send a signal to Brussels politicians". The Fund's credit risk has not changed — the pressure is political.

Rental allowances paid late

In December 2024, approximately 6,000 recipients did not receive their rental allowance on time. The cause: no budget adjustment had been prepared since May 2024 (election year). The coffers were empty. Payments were finally made in early January 2025 thanks to provisional twelfths.

What has been done despite everything

• 2,000 new social housing units delivered between 2020 and 2024
• 7,500 dwellings renovated over the same period
• 2,327 families housed in social housing in 2024
• EUR 2 billion invested in social housing 2020-2024
• The tenancy reform (Housing Code) entered into force on 1 November 2024, adopted before the elections

What is blocked

• Alliance Habitat: new phases frozen (original target: 6,720 new public housing units for EUR 953 million)
• New construction projects: on hold even with permits obtained
• Rental allowance reform: no structural overhaul possible
• PAD (Master Development Plans): Gare du Midi, Heysel frozen
• SLRB carrying a debt of 195 million EUR, forced to sell the Ariane and Palais sites (~52 million EUR), including nearly completed projects

Why this matters

Housing is the largest expenditure item for Brussels households. When 10% of the population is waiting for social housing and the main financing tool is at a standstill, every month without a government deepens a social debt that will take years to address.