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On point Brussels Q3 2013: A two-sided story

Occupiers activity: challenging.
The letting activity in the summer was very quiet, take-up year-to-date amounts to 270,000 sq. m., 6% lower than a year ago.
Full year might end-up signifi cantly lower than 2012.
Vacancy was roughly unchanged at 10.5% vs. 10.6% 3 months ago.
Prime rents were unchanged at €285 / sq.m./ year however top quartile rents declined by 2% year-on-year and weighted average rents declined by 3%.
Capital markets: booming.
Investment volume in Belgium came in at € 1.9 bn, up 41% year-on-year boosted by large office transactions. The 5 year average of € 1.9 bn is achieved, the 10 year average of € 2.6 bn is achievable.
Prime office yields under pressure for core products in CBD locations, ranging between 5.8% and 6.25%.

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