The « Japanese scenario » is shared by a vast majority of respondents.
The digitalization of the economy and ageing population are perceived as the game-changers.
The wave of optimism is shared by the vast majority of respondents.
Developers prefer regional cities, but institutionals (insurers, REITs, fund managers) maintain their preference for Brussels. Same as in 2019.
A major shift to Value Add (was 14% in 2019).
Non-core transactions rise to 74% vs. 69% in 2019
As in 2019, financing is fairly easy through various channels and a majority retains a leverage < 50%
Positive sentiment overall, but moderate expectations for rental growth.
More than a third considers that co-working is a bubble.
Respondents unanimously consider that retail will need another few years before recovery
Respondents are convinced that Belgium is an attractive market for logistics developments
More optimism for Offices & Logistics than in 2019, but caution still prevails for High Street.