The Belgian retail market continues to work through its transition to a modern, responsive market shaped by e-commerce and changing consumer habits, urban planning and mobility. These forces will continue to impact the market for the foreseeable future.
Despite the disruption, take-up activity is strong, totaling 168,000 sqm through the first half of 2019. Food & beverage continues to be popular, particularly in shopping centres as well as the high street. Belgium continues to attract new market entrants such as Burger King and Five Guys. Investment is in line with the longer term average, with some upward pressure in yields noted.