Is the Belgian industrial real estate market heading towards a new equilibrium?
As observed in other segments of the commercial real estate investment, 2023 has witnessed a ripple effect in residential investment in Europe and Belgium
Valina Sempot - VSMC srl
You can read the press release in Dutch & in French
After years of growing demand for logistics and semi-industrial spaces, resulting in immense pressure on rents and land prices, 2023 showed signs of a slowdown. However, the fundamentals remain solid and healthy.
The Belgian industrial real estate market did not take the wave head-on, it is heading towards a new equilibrium.
Brussels, January 23, 2024 - JLL, a leading player in the Belgian sector, assesses the year 2023 for the industrial and logistics real estate market. 2023 was a challenging year geopolitically and in terms of the global economy. The real estate market was naturally not spared, particularly due to the end of easy money and persistently high construction costs.
Despite this difficult context, the occupancy of semi-industrial and logistics spaces performed 4% better than the previous year, reaching 2,185,000 sqm. Compared to the five-year average, this occupancy rate remains up by 6%. JLL also observes that these two activity segments are fairly balanced, with a 50/50 distribution of total occupancy. [...]
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.