Belgium Logistics MarketView 1H 2023

Key Takeaways

• While supply chain challenges persist, notable improvements can be seen in freight rates, freight capacity, inventory management and backlogs.
• Logistics demand, and built-to-suit demand in particular, continues unabated with already 502,029 m² in take-up.
• The Q2 2023 vacancy rate stands at 2.16% or 327,308 m² in warehouse space.
• Developers currently have 812,463 m² under construction, of which 631,729 m² concerns precommitted built-to-suit warehouses.
• In line with the European investment market, deal activity in the Belgian industrial & logistics market fell in the first half of 2023. CBRE registered €192m of deals completed since the start of the year.