Discounters and fashion chains propel Belgian retail rental market to record levels

TEDi, Jysk, Wibra, and Kruidvat were the most expansive retail chains last year in a highly dynamic Belgian market. Retailers showed considerable interest in prime locations in city centers and shopping centers, while rents remained stable.

Interest in prime locations

No fewer than 1,027 new stores opened in Belgium last year, representing a total of 545,524 m² of retail space, well above the ten-year average of approximately 422,000 m², according to a new analysis by real estate broker CBRE. To be clear, these figures refer to leases signed last year, including lease renewals, but they do indicate strong momentum in the retail market.