Soaring food and energy prices are weighing on consumer spending, resulting in lower real retail sales. For Belgium, inflation is estimated at at least 8.4% for the year 2022. Retail take-up in 2022 so far has been in line with the multi-year average, coming in at just over
223,000 m². Rents in the retail sector have seen downward corrections in the past years mainly as a consequence of the pandemic and ecommerce compeition. The Belgian vacany rate for retail amounts to 11.6% in 2022, according to Locatus. It is the first time in over 10 years that the retail vacancy rate decreased in Belgium.