[trgn]

Yup transaction costs are outrageous in Belgium. I blame it on the continued 19th century practice of upper crust families parking their more dimwitted members in civil law notary positions, guaranteeing them a respectable income without giving them the ability to cause too much harm. Seats for those offices are still getting hawked around today (expensive to claim one!).

All kidding aside, yes, the high transaction costs are a real break on speculation in the housing market there.