Belgian furniture sector slumps after strong first quarter

Belgian furniture sector slumps after strong first quarter

The Belgian furniture sector has not been able to build on its excellent first quarter as turnover dropped again in the second quarter. The industry's forecast for the remainder of the year is lackluster as well.

Turnover growth not maintained

In the first quarter, the Belgian furniture sector managed a 3.2 % turnover increase, its best performance since 2011. The second quarter the sector immediately resulted in a slump however, as turnover dropped 1.5 %.

 

Office furniture (up 15.9 %) and kitchens (up 12.4 %) still perform well, but Fedustria (federation of the textile, wood and furniture industries) does not expect the sector to pick up in the last part of the year. "Economic activity and consumer trust have to grow before that can happen", it says.

Questions or comments? Please feel free to contact the editors


European retail rental prices continue to soar

20/07/2017

A recent study from research firm CBRE shows that rental prices for Europe’s most expensive retail locations are still on the rise. It is the only region that still experiences growth for retail real estate.

Mitiska REIM acquires 11 Romanian retail parks

23/06/2017

Mitiska REIM has acquired Romanian Alpha Property Development’s portfolio of eleven profitable retail parks and three development projects. The Belgian real estate firm is now the market leader in Romania.

Raad van State suspends Uplace's environmental permit

30/03/2017

Uplace will have to put its construction plans for Machelen on hold once again because the Raad van State just suspended the environmental permit the Flemish government had approved.

Redevco buys new store location in Paris

24/01/2017

Real estate firm Redevco bought a store location, including stores like Tiffany & Co and Glasshütte, in the Rue de la Paix in Paris from Savills Investment Management. Neither party wished to disclose the fee for the acquisition.

Rental price for top shopping streets drops

16/11/2016

Rental prices in the world's two most expensive shopping streets have dropped due to the growth of online shopping, leaving retail chains and real estate agents in a real pickle on how to deal with this new reality.

Major Benelux cities are important step in international brands' expansion strategy

14/11/2016

International brands use major Benelux cities as an important stepping stone in their European expansion strategy, a new study says. Many major brands schedule openings in the Benelux immediately after hubs like Paris and London, mainly thanks to its central location.

Back to top