[Analysis] Why premises of bankrupt retailers quickly find new tenants

Retail vacancy rates in Belgium continue to fall in the first half of the year, despite a number of major bankruptcies. Vacant retail premises are finding new occupants surprisingly quickly.

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During the first six months of 2024, real estate consultant CBRE recorded 199,183 sqm in new retail lettings in Belgium, which is slightly higher than the five-year average for the first half of the year. These were mainly transactions in high streets and out-of-town locations: activity in shopping centres is lagging behind due to a shortage of quality available properties.