"5,000 Euros Rent Is Outdated": Turnhout Real Estate Agent Doubts Car-Free Street Will Solve Vacancy

A real estate agent in Turnhout, Belgium, expressed skepticism that making the Gasthuisstraat, the city's main shopping street, car-free will resolve its persistent vacancy issues. Immo Delestré, a local realtor managing numerous properties in the area, argues that the fundamental problems lie in excessively high rental prices and the competitive pressure exerted by out-of-town retail outlets.

"5,000 euros rent is no longer realistic today," stated the agency, highlighting a disconnect between property costs and current market viability. The agent's perspective suggests that while pedestrianization aims to enhance the street's appeal, it fails to address the core economic challenges facing local businesses. The high rents, they contend, make it difficult for many retailers to operate profitably, leading to empty storefronts.

Conversely, the Turnhout city council anticipates that the street's redevelopment, including the planned car-free initiative, will foster a more vibrant atmosphere and diversify the retail offerings. To combat prolonged vacancies, the council also plans to implement a vacancy tax. This measure aims to incentivize property owners to find tenants rather than leave spaces empty, potentially putting downward pressure on rental prices over time.