Belgium Logistics MarketView 1H 2023

Rental growth and yield decompression cancel each other out in logistics

July 27, 2023 10 Minute Read

Logistics MarketView_972x1296

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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.