From Reset to Repositioning

In this new edition of the Investors Directory, we look back on a pivotal year for the Belgian real estate market. After the sharp correction of previous years, 2025 marked a phase of stabilisation and recalibration rather than a full recovery. Pricing levels have largely adjusted, financing conditions have normalised, and confidence is cautiously returning — albeit unevenly across sectors.

While transaction volumes remained below long-term averages for offices, logistics and retail once again proved their resilience, residential strategies continued to evolve, and the office market showed early signs of differentiation, with future-proof, ESG-compliant assets attracting sustained interest. The market has clearly entered a phase of selectivity: quality, location and adaptability now outweigh scale alone.

Belgian real estate investors demonstrated remarkable adaptability throughout this transition. Domestic capital continued to play a stabilising role, while international investors slowly re-entered the market, drawn by repriced assets and the country’s transparent and institutionally mature framework.