Research
Belgium Retail Market Dynamics, Q4 2024
Summary and analysis of Belgium's current retail real estate market conditions.
March 05, 2025
Contributors:
- Raja Lachhab
- Quentin Bugli
- Caroline Housen
The retail property market showed mixed signals in 2024. While the number of transactions shrank (-7% YoY), the total volume leased or acquired for own occupation remained stable YoY.
In 2024, the take-up volume amounted to 421,800 sq.m. The biggest share of this take-up volume was held by Home & Decoration segments with 94,000 sq.m. followed by Leisure & Sport (80,000 sq.m.). Fashion ranked 3rd with 65,000 sq.m.
Prime rent remained stable for high street properties while increases were recorded for Antwerp retail warehousing and shopping centres.
