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The Brussels office market in Q1 2015 : waiting for Europe’s decision

  • Take-up in Q1 2015 down by 38% y-o-y to 60,877 sq.m. Leasing activity is subdued, waiting for Europe's decision for a c. 36,000 sq.m. need.
  • Vacancy slightly declines to 10.2% and is expected to fall below 10% in the near term with European institutions' deals.
  • Prime rents unchanged at €275 / sq.m. / year, but rental values overall decrease.
  • Investment volume: very strong start: € 977 Mio (+222% year-on-year), once again boosted by large size deals.
  • Prime office yields are confirmed at 5.75% in CBD locations, and may go further down in the short term.  

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