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Office Market Report Flanders Summer 2016: Antwerp is back to the forefront of the Flanders office market

  • ​189,000 sq.m. taken up in 2015 in the main cities. 2016 should be quieter, however Antwerp and Mechelen are expected to perform very well. 

  • Vacancy trends down in all cities, including Antwerp, as the few speculative completions are absorbed by demand for quality space.  

  • ​Rental values are under upward pressure in Antwerp and may rise in the near term, due to a quality shortage and rising demand.
    In other cities, rents stabilise. 

  • ​The investment activity in Flanders was at an all-time high in 2015 thanks to huge shopping center deals.

  • ​2016 will be another good year with another shopping center deal, as well as logistics and retirement homes portfolios.  Prime yields for all asset classes may compress further.

  • Development activity r​estarts in Antwerp and Hasselt, but is minimal in other cities.​

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