Interview with Alex Casteels: “Transparency and reliable partners make the difference today”

For the past five years, Casteels Vastgoed from Merelbeke-Melle has been working together with Setle. During that period, manager Alex Casteels has seen the real estate market change significantly. We spoke with him about the most important evolutions, the role of Setle, and his view on the future.

How have you seen the real estate sector evolve in recent years?

Alex Casteels:
“The biggest change I see is the difference in interest between move-in-ready homes and renovation properties. While both types used to attract a wide audience, we now notice a strong decline in the demand for renovation projects. This is mainly due to the high cost of building materials.

The legislation itself creates, in my opinion, less pressure — but the uncertainty around it does. People often don’t know what exactly applies: will renovation obligations remain, or not? That makes decision-making difficult. Yet we also see momentum arise when obligations are eased, as buyers then get more freedom to allocate their budget where they want.”

What other trends stand out for you?

“The price increases. I’ve been working in real estate for fifteen years now. In the first ten years, prices rose annually by an average of two to three percent, usually aligned with seller expectations and buyer offers. In recent years, however, I’m seeing bids that go up to ten percent above market value, often due to the location, finishing, or popularity of the property. That was unheard of before.”

Does Setle help you evolve with these market changes?

“Absolutely. The biggest challenge for potential buyers is often: what renovation is necessary, and at what cost? Offering transparency has always been our approach, but we used to rely on architects for this. That process was time-consuming and complex. With Setle, things go much faster and more easily — and via a neutral third party.

Thanks to the integration with our website, clients can even plan and estimate their renovations themselves. We gain better insight into the possibilities, and buyers can fine-tune their renovation plans down to the smallest details — even adjusting a single power outlet. Completely tailor-made.”

How do clients experience this collaboration?

“Generally very positively. Not everyone provides feedback, but it is well received. We integrate Setle into our workflow so clients automatically see that the option exists. It strengthens the transparency of our process.”

Can you give an example where Setle played a decisive role?

“Certainly. I immediately think of a house in Ghent we sold to a couple from West Flanders. They were very critical, and it was a full renovation. Thanks to Setle, we could present clear cost estimates. The man was a plumber and believed he could estimate the costs himself, but Setle provided a realistic overview. It gave them peace of mind and confidence. They eventually bought the property. Even the estimates from Setle and the architect differed by only 1,000 euros. That proves how reliable the system is.”

How do you see the market — and your collaboration with Setle — evolving in the future?

“The future is difficult to predict, especially with new legislation on the way. This will influence the rental market and the indexation of rental properties. I expect an influx of older homes coming onto the market. Therefore, I also expect a price correction for non–move-in-ready homes, which can offer many opportunities to buyers.

Every property requires a different approach. We treat a move-in-ready property differently than a renovation property. Differentiation in the buying process is essential. AI will also play a role: there is a lot of information available — not always correct or clear. We are active in the mid- and high-end real estate market, where personal contact remains essential. Reliable partners and specialists, like Setle, play an increasingly important role in guiding our clients.”