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SNAPSHOT Q4/2019: KEY ANALYTICS ON BELGIAN REAL ESTATE MARKET

Sharpen your focus on what’s in industrial, office and retail real estate

Snapshot Q4/2019: key analytics on belgian real estate market – Nobody move! Cushman & Wakefield’s back with its quarterly snapshot of the Belgian real estate market. Up next: Fourth Quarter of 2019.

Delve into the key parameters of the local market. Zoom in on what’s what in industrial, office and retail real estate, and get your asset strategy up to speed with crucial insights into what’s happening today – and what might affect the market outlook next.

HERE’S BELGIUM: GENERAL OVERVIEW

The Belgian economy appears to have slowed in Q4. The deceleration will become more apparent in 2020 as external headwinds take their toll on exports and investment.

GDP growth is expected to slow to 1.2% in 2020, from 1.3% in 2019, but the risks are on the downside. Household purchasing power will keep growing while the unemployment rate, despite rising slightly, will remain low.

THE INDUSTRIAL MARKET

Semi-industrial activity registered its best ever quarters in Q4 and year over 2019 thanks to an increase in demand and deal sizes.

The logistics market witnessed the same phenomenon. Demand was particularly strong in Flanders and Wallonia and was backed up in no small part by numerous XXL deals throughout the year.

2019 was also a momentous year on the investment market rounded off by a strong Q4 during which million EUR was invested in the logistics and semi-industrial sectors.


THE OFFICE MARKET

We’ve registered a solid Q4 with a take-up volume of 87,000 sq m across regional markets. For instance, the coworking sector was the most dynamic occupier type.

On the investment side, 2019 was the second best year of the decade in terms of recorded investment volumes across regional markets.

In Brussels, the total take-up for the year reached an impressive 542,700 sq m making it the best letting year since 2006.

On the investment front, the year 2019 saw the highest number of transactions ever registered (69 deals) on the Brussels office market and recorded therefore the highest investment volume after 2002.


THE RETAIL MARKET

With around 380,000 sq m of take-up recorded in 2019, the Belgian retail sector ended the year behind the performances observed in 2018. This downward movement is observed in the different retail segments. On the other hand, Food & Beverage activities continue their exponential growth and play as key differentiator in the attractivity of a centre. 

Close to EUR 1bn were invested in the retail sector in 2019, a strong decrease compared to 2018 as no big shopping centre transaction was observed. Activity is however very strong in the out-of-town retail segment, especially when a (super)market is part of the scheme.


Contact our team for more info about : Snapshot Q4/2019 – Key analytics on Belgian real estate market

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MEET THE TEAM

Cédric Van Meerbeeck

Cédric Van Meerbeeck
Head of Research & Marketing
Cedric.vanmeerbeeck@cushwake.com

Shane O'Neill

Shane O’Neill
Senior Research Analyst
Shane.oneill@cushwake.com

Nigel Beller

Nigel Beller
Research Analyst
Nigel.beller@cushwake.com

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