Belgium Logistics MarketView H1 2024

Key Takeaways

• In the first 6 months of 2024, logistics take-up amounted to 338,170 m², some 30% below 2023. Interestingly, there has been a considerable uptick in the demand for smaller warehouses and storage spaces with 350,951 m² in letting and sales deals registered thus far
• The current vacancy rate in Belgium increased to 3.93% or 633,475 m², from 1.48% or 222,729 m² as at the end of 2023
• At present, developers are constructing 563,204 m² of logistics space, with 28.7% of it still open for occupancy
• Belgium has experienced a record investment volume of €898 million for logistics and semi-industrial warehouses in the first 6 months of 2024