Belgium Retail MarketView 2H 2022
February 28, 2023
- Soaring food and energy prices are weighing on consumer spending, resulting in lower real retail sales. Though, inflation is quickly moderating in Belgium in early 2023 to 6.62% as of February.
- Retail take-up in 2022 was impressive, achieving a record 516,000 m² of new deals.
- Rents were stable in the best markets last year, while shopping center prime rents increased.
- Record take-up, limited new development and conversions have kept overall retail vacancy in check.
- Retail investment in 2022 was characterised by some landmark deals such as the retail portfolio in the Metropöle deal and Antwerp Tower.