Methodology: how we estimate rents and yields

What is PandPeil?

PandPeil is a free, independent information project that maps the rental yield of garages, apartments and houses for sale in Belgium, across 13 cities and municipalities in Flanders, Brussels and Wallonia. PandPeil is not affiliated with Immoweb or any estate agent, and does not sell property.

Data source and refresh

Every week an automated job collects the public sale and rental listings on Immoweb.be, after which all rent estimates and yields are recalculated. The latest data is from 25 October 2026. On this site we publish only our own aggregated figures; listings, photos and descriptions belong to the advertisers, and the interactive tool links every property to its original listing.

Rent estimates in five tiers

For every property for sale we look for real rents of comparable properties, as close by as possible. We use the strongest tier with enough data, and show which one next to every rent:

1. Stated in the listing: the listing states the current rent ("rented at €95/month"). We use that rent and show our own estimate for comparison.
2. Street data: rentals of the same class on the same street.
3. Nearby data: rentals of the same class within 500 m to 1 km (1 to 2 km for houses).
4. City average: rentals of the same class elsewhere in the city, with no street-level data.
5. Approximated: too few local rentals; the national rent for the class, scaled to the city's price level. Check local rents yourself.

Small samples are blended toward the next tier up, so a single odd rent can't set the estimate.

What counts as comparable

Garages are only compared within their class (lock-up garage, covered or outdoor parking space). Apartments and houses use the rent per m² of similar-size rentals multiplied by the property's surface.

Each address counts once, and one agency or landlord for at most three addresses, so a single party with many listings can't set the local price. Commercial car-park operators (landlords renting garages at 15 or more addresses, such as car-park subscriptions) are left out for garages: that is a different market from a private space.

Several units and exceptions

When a listing sells several units together (for example 10 parking spaces), rent and running costs are calculated for all of them. A unit count is only accepted when the price per unit is realistic for the city. The same property listed by several agencies is shown once.

Life-annuity sales, bare ownership, public sales, building plots and storage units sold as parking are shown, but without a yield: their price isn't comparable. With an "offers from" price, the real yield is likely lower.

How accurate are the estimates?

We test the method with leave-one-out validation: every rental listing is predicted from all the others, holding out every rental at the same address so identical spots in one building don’t flatter the result. Median absolute error on the October 2026 data:

Approximated estimates are much rougher (21 to 32%), which is why the tool labels them.

Gross and net yield

1. Gross yield = annual rent ÷ asking price.
2. Net yield = (annual rent × 95% − yearly costs) ÷ (asking price + registration duty + notary fees). Assumptions: 5% vacancy, cash purchase, registration duty of 12% in Flanders and 12.5% in Brussels and Wallonia (investment property), the notary fee scale plus fixed deed costs and 21% VAT. Indicative yearly costs:

Outliers and small samples

Listings with a gross yield above 12% (garages) or 8% (apartments and houses) are almost always mislabelled (a storage unit, the per-spot price of a bundle, an auction start price). They are left out of the medians. Pages with fewer than 25 listings show no median figures.

Limitations

Asking prices are not sale prices and asking rents are not signed leases. Renovation costs, tax on rental income and financing costs are not included. These are estimates: always check the property itself.

Not financial advice

The figures on PandPeil are for information only and are not financial, tax or legal advice.

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Updated 25 October 2026. PandPeil is an independent, free information project and is not affiliated with Immoweb. Figures are aggregated from public listings on Immoweb.be; the listings themselves belong to the advertisers. Estimates only, not financial advice.