Belgium Investor Survey 2023

The Investor Survey was designed by CBRE Belgium in order to provide in-depth insights into investor sentiment and planned capital allocation. The Survey is based on a comprehensive questionnaire completed by 35 national and international developers and investors in the months of December 2022 and January 2023.

The 2023 CBRE Belgium Investor Survey reveals that 35 questioned investors plan to allocate €4.7 billion in Belgian commercial real estate investment in 2023, well below the €9.0 billion that was available at the start of 2021 and the €6.0 billion that was planned for 2022. Therefore, economic uncertainty, inflation and higher interest rates are likely to lead to less capital allocation and eventually investment volume in 2023. At the same time, the survey shows that investors will divest about €4.3 billion of their current holdings, in line with previous years. Of the respondents, 66% are expected to be net buyers while 34.5% are expected to be net sellers.