Retail vacancy in Belgium rises after three-year decline
The number of empty retail premises in Belgium is rising again, following three consecutive years of decline, according to data from analytics firm Locatus.
At the start of 2025, 11.2 per cent of all retail properties in Belgium were vacant, an increase from 10.4 per cent at the beginning of 2024. This equates to more than 21,500 empty shops across the country.
The figures mark a reversal of a downward trend that followed the peak retail vacancy rate of 11.8 per cent in early 2021, during the height of the Covid-19 crisis. For comparison, in 2008, only 5.1 per cent of retail spaces were vacant.
While retail vacancy has risen nationwide, mid-sized cities have been hit the hardest. They saw an average vacancy rate of 17.5 per cent. Some areas, such as Charleroi (36.2 per cent) and Peruwelz (32,8 per cent), have seen even more dramatic figures.
Bankruptcies
According to Locatus, the increase in empty shops is largely driven by a wave of bankruptcies among major retail chains in 2024. Fashion retailer Esprit was among the hardest hit, closing 15 stores across Belgium, including locations in Antwerp, Bruges, Ghent, and Wijnegem.
Other well-known names such as footwear chain Bristol, Carpet Right, and Scotch & Soda also collapsed.
"Stop granting permits for out-of-town retail centres and instead invest in vibrant town and city centres"
Locatus also counts bank branches as retail properties, meaning that the growing number of bank closures has contributed to rising vacancy rates.
Over the past few years, ING has drastically reduced its network, closing more than half of its branches. Meanwhile, the merger of AXA and Crelan in 2024 resulted in the closure of nearly 100 branches.
Business organisation Unizo has used the latest figures to call on cities and municipalities to prioritise investment in urban centres.
“Stop granting permits for out-of-town retail centres and instead invest in vibrant town and city centres,” CEO Danny Van Assche said.
Shoppers in Brussels © PHOTO BELPRESS
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