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The Brussels Office Market Q1 2018: prime rents up 14.5% y-o-y

  • A slightly lower take-up compared to last year. 83,000 sq.m. recorded, down 2.6% y-o-y. Co-working space operators once again active. 

  • Vacancy: slightly up to 8.3% vs. 8.2% previously, but in the CBD only 4.1% is vacant vs. 4.4% 3 months ago and the lowest since Q4 2001. Outside the CBD, 15.2% is vacant vs. 14.7%. 

  • Prime rents: increasing again to €315 / sq.m. / year vs. €300 previously. On a yearly basis, the increase is 14.5%. 

  • Investment volume: all-time high Q1: €1.9 bn recorded, all asset classes together, 3 times as much as last year. Strong interest by South Korean investors continues. 

  • Prime yield: 4.25%, down 25 bps and new record low. 

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