An International Perspective on the Belgian Retail Market in 2006.
24 Jan, 2007, BRUSSELS
The European market was characterized by favorable turnovers and a sound evolution of the consumers confidence index, resulting in a growing enthusiasm. This euphoria may have been somewhat moderated by a disappointing end of the year (for instance in Germany), but the overall shape of the European market remains excellent, as confirmed by the emergence of new formats (i.e. retail parks), and by the sustained demand of both national and international retailers. This climate results in increasing rent prices which, in combination with a slight decrease of the yields, led to a considerable increase of the capital. The health of the Belgian market is also confirmed by the yearly global ranking of the most expensive streets provided by Cushman & Wakefield’s Main Streets Across the World study. The Rue Neuve in Brussels is going up five places (from #28 to #23), and still leading the Belgian ranking with a prime rent of 1580€/sq.m./year at the end of the year(VS 1250€/sq.m./year at the beginning of 2006). The Meir in Antwerp comes second, preserving its historical position with a remarkable increase, its prime rent reaching 1450€/sq.m./year at the end of year (VS 1200€/sq.m./year at the beginning of 2006).
For further information, please contact:
Karl Van Oosterwijck
+32 2 546 0882