Figures
Belgium Retail MarketView H1 2024
Retail take-up in line with previous years, as surfaces of departing brands re-let quickly
August 5, 2024 6 Minute Read
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Key Takeaways
- For the first time in 5 years, the ECB lowered its three key interest rates by 25 bps each.
- Core inflation (3.7%) fell below general inflation (3.0%) and consumer confidence kept stable in H1 2024 after a considerable recovery in 2023.
- Retail take-up was up for high street and out-of-town retail, but low for shopping centers, totalling 199,183 m² of deals in H1 2024.
- Top rents were stable in Belgium's key markets and vacancy is continuing its downward trend.
- Very limited retail park development expected for the coming 2 years.
- Small cap retail remains popular with private investors and family offices. Investment volume for retail real estate was €242 million in H1 2024.