Figures
Belgium Retail MarketView H1 2025
A Resilient Belgian Retail Market Thrives on the Investment Side
July 31, 2025 6 Minute Read
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Take-up
H1 2025 retail take-up totaled 205,670 m², slightly higher than the previous year. High street transactions increased significantly, while shopping center and out-of-town deals slightly decreased.
Fashion led sectoral take-up, driven by a large Zara deal. Supermarkets, food & beverage, and services also performed above average. Home & household and shoes & leather segments underperformed. The overall retail market remains resilient, with yearly take-up projected to match the decade-long average.
Rents
Prime high street rents remained stable at €1,650/m² in Brussels and Antwerp. Shopping center prime rents remained stable at €1,200/m², and out-of-town retail park rents at €185/m².
Vacancy
Vacancy rates exceed 20% in some Walloon cities (Liège, Namur, Charleroi). The Flemish cities have much lower vacancy, with especially Bruges and Ghent benefitting from high tourism levels. Brussels maintains an average vacancy rate of around 10%.
Investment
Retail investment in H1 2025 exceeded €808 million, surpassing previous years.
Prime yields remained stable in H1 2025. Estimated yields for prime high street retail are still at 4.75%, while prime shopping centers could change hands at 6.00%. Retail parks were popular among investors, with some interesting files transacted H1 2025. Also the prime yield for retail parks remained stable however, at 5.75%.
Contact
Kim Verdonck
Executive Director – Head of Research, Marketing & IT Development
