Quarterly Market Update Industrial & Logistics – Belgium Q1 2024

Promising signs with solid project pipelines & international investor confidence

May 29, 2024
  • Caroline Housen
  • Mathieu Opsomer
  • Kristof Buelens

Despite a slow start, both logistics and semi-industrial segments in Belgium show promising signs with solid project pipelines and international investor confidence.

Logistics Occupier’s Market:
  • The logistics segment experienced a slow start in Q1 2024, with a 26% decrease in rented area or acquired for own use compared to Q1 2023.
  • Despite the decrease in activity, the vacancy rate remains low along the major logistics axis and in Belgium overall.
  • Cautious approach by developers: over 84% of the projects were launched non-speculatively.
  • Prime rents in logistics are under upward pressure.
Semi-Industrial Occupier’s Market:
  • The semi-industrial market also had a slow start in comparison to Q1 2023 albeit average deal size remained stable.
  • Solid Pipeline in Antwerp, Flemish Brabant, West Flanders, and Walloon Brabant.
  • Prime rents remained stable in Brussels and its periphery, with an upward outlook.
Investment Market:
  • The logistics investment market started positively in 2024, with Q1 realizing almost the entire annual logistics investment volume of 2023.
  • Growing focus on the ESG agenda, aiming to achieve decarbonization goals and increase energy efficiency in logistics and industrial properties.
  • Prime Yields should remain at similar levels throughout 2024.

Fill out this form to REQUEST the report

There was an error submitting the form. Please try again. 



Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.