The vacancy rate has fallen from 10.3 percent at the beginning of 2023 to 9.8 percent at the end of the year. West Flanders is doing better than the Belgian figures, where there is also a decrease from 11.3 percent to 10.4 percent.
“Purely in figures, the vacancy of commercial properties is evolving in the right direction, but this does not mean that it is also a positive story for retail, certainly not for the centers of our cities and municipalities,” says Vincent Kint of UNIZO West Flanders.