Research

Belgium Retail Market Dynamics, Q3 2024

Summary and analysis of Belgium's current retail real estate market conditions.

October 30, 2024
Contributors:
  • Raja Lachhab
  • Quentin Bugli
  • Caroline Housen

The retail leasing market demonstrated remarkable resilience, with a year-to-date take-up volume of 262,400 sq. m. The distribution across regions shows 64% in Flanders, 25% in Wallonia, and 11% in Brussels.

Since the start of 2024, the Retail real estate sector has attracted 340 million euros in investments. Currently, private local investors dominate the market, holding a 90% share, with 39% of the invested capital concentrated in High Street properties.

Foreign institutional investors face limitations in the Belgian market due to a scarcity of state-of-the-art Retail Warehousing properties. Meanwhile, value-add Shopping Centre assets have become the focal point for investors seeking opportunities in the retail sector.

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