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The Brussels Market Report Q1 2016: Large size transactions reboot the Brussels office market

  • ​Take-up in Q1 2016 increased by 47% y-o-y to 93,000 sq.m., thanks to the biggest transaction in nearly two years. 2016 will be much better than 2015 with at least 4 transactions above 20,000 sq.m. expected. 

  • Vacancy in the CBD is at a 14 years low: in Q1 2016 it was 5%, while in Brussels as a whole it was stable at 9.6%. 

  • Prime rents were unchanged at € 275 / m² / year, however we observed an upward pressure on weighted average rents. 

  • ​The investment market has reasonably started the year 2016 with two deals above € 100 Mln. 2016 will be another excellent year with other mega deals. 

  • Prime yields slightly compressed by 10 bps to 5.25% and could further compress to 5% in the near term. 

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pdf | 1787840