The Belgian investment and occupier markets recorded an exceptional 2019, with dynamics expected to carry through 2020. CRE investment should significantly surpass the 5 billion eur mark given the pipeline and investor interest. Office and industrial occupier markets should see high activity if not too constrained by limited supply. Retail will continue to evolve with prime locations still experiencing good demand. The residential market is both diversifying and professionalizing, well-supported by the fundamentals.