If you are planning to rent a small warehouse space in Belgium, you should consider several factors. Location, size and rent are some of the factors to consider. To make the right decision, read our Market analysis. Listed below are some useful tips for finding an ideal rental space. This article provides an overview of the small warehouse rental market in Belgium. Once you have completed this article, you can apply these tips to your own situation. Hopefully, this article will help you make an informed decision about your business needs.
Market analysis of the Belgian small warehouse rental market
The availability of light warehousing units has deteriorated significantly in Belgium over the past decade. While new developments will continue to feature a number of modestly-sized units, the overall availability figure in Q4 2021 was 1%. Larger units are increasingly difficult to find. Despite the recent improvement in the availability rate, there are still a few challenges for the Belgian small warehouse rental market.
A number of global drivers are driving the logistics industry globally, but these factors vary by region and country. A significant demographic issue is the shrinking working age population in Europe, which threatens to exacerbate the already complex labour situation in this sector. Increasing online shopping is boosting the need for warehouse space in Belgium. With such a demand, renting a small warehouse is becoming increasingly attractive. Listed below are the main drivers.
The booming logistics sector in Belgium has caused a shortage of small warehouse rentals, but that demand is unlikely to be affected by a shortage of space. Last year, two million square metres of warehouse space were rented in Belgium, eight percent more than the previous year. This is a positive development for the Belgian economy, but the shortage of space is having an effect on the rental market. Currently, only one percent of warehouses in Belgium are empty, a record low in Europe. In addition, despite the looming COVID-19 pandemic, the demand for storage space is expected to remain high, as it will continue to grow due to e-commerce.
While many markets are experiencing strong rental growth, the country’s economy remains relatively stable. The country is also cheaper than its more expensive neighbors. The proximity to these countries offers a number of benefits. The country’s location is a multicultural and affluent gateway to over 500 million consumers in Europe. A small warehouse rental in Belgium can give your business a competitive edge. It’s also the perfect place to grow your business.
Size of spaces
In the past, Belgium has been an attractive location for small warehouse rentals, with low vacancy rates and limited speculative development. However, in the current climate, the availability of spaces has remained low, with the vacancy rate for logistics in the country hovering around 1.60 percent at the end of Q1 2021. This lack of availability has made it difficult for companies to find space for their warehouses and related operations in the country.
While Belgian rental prices remain low, tenants need to be prepared for a large amount of investment. The size of spaces available for rent will vary depending on the nature of the business and the location. The most expensive areas are located close to the city centre, near the Schuttershofstraat and Meir. However, outside these central areas, rental prices are much lower. Therefore, it’s advisable to shop around to find the right space.
If you need to rent a small warehouse in Belgium, you may be wondering how much it will cost. The answer to this question depends on your budget and location. Rents for small warehouse rental in Brussels are comparatively expensive, especially in the prime locations. For this reason, you will want to choose a location where your business has enough scope for expansion. You should also know that rental prices vary greatly depending on the location.
The Belgian logistics market has been booming recently. According to recent statistics, the country will add 600,000 square meters of new warehouse space in 2019. The demand for warehouse space is rising as warehousing facilities become more sophisticated, versatile, and spacious. The lack of vacant warehouse space in Brussels is one of the main reasons why rents are rising. In addition to that, available warehouse space is being rented in record time. The COVID-19 pandemic and the rise of e-commerce are driving up demand for space.
The new VAT regime in Belgium will greatly affect the construction and real estate sector. Starting January 1, 2019, Belgium will no longer be at a competitive disadvantage with its neighbours in Europe as it will be easier to tax warehouse space and other services provided in such facilities. Already, VAT applies to building rentals in the European Union, and small warehouse rental will be even easier. In Belgium, it is the duty of the landlord to charge VAT on services rendered in the warehouse.
A lease agreement for real property is a contract for the transfer of interest, access and use of a real property to a tenant. The tenant does not receive the right to use the property itself, so it is not subject to VAT. Furthermore, the lease contract enables the lessor to sell goods and services on the real estate, which do not require VAT. Therefore, this type of rental is not subject to VAT.