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Belgian apartment prices fell 3.1% in 2012, largely because of weakness in Flanders

The Dutch-language press in Belgium is reporting that Belgium experienced a 3.1% decline in apartment prices nationwide, largely because of weakness in the Dutch-speaking region of Flanders. This price fall is in stark contrast to 2011 when apartment prices in Belgium rose 8.4%. The data suggests that the sovereign debt crisis in Europe is taking its toll on the Belgian economy and leading to weakness in the housing market.

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.