Annual Press Conference, Regeneration underway despite challenging investment climate

You can read the press release in Dutch & in French

Brussels, December 10, 2024 – JLL, a leading player in the Belgian real estate market, has released its 2024 report on the Brussels office market. Key insights highlight a cautious recovery, marked by a strong trend towards asset regeneration, despite ongoing challenges.

Cautious Market Recuperation:

Slight Increase in Occupancy. Our estimates suggest that office take-up will reach 325,000 square meters by the end of December, reflecting a 5% increase compared to 2023; however, it remains below the five-year average of 379,000 square meters. Thus, the outlook for the Brussels office market remains mixed.

Christophe Golenvaux, Head of Office Agency Brussels and Wallonia at JLL, notes: "The standout feature of 2024 is the record proportion of 'Grade A' properties in transactions. These assets, five years old or younger, either existing or under construction, represent 56% of total transaction volume based on our estimates as of the end of November. This significant rise surpasses 46% in 2023 and the five-year average of 44%. This trend reflects a growing demand for modern and sustainable office spaces." [...]

The complete Press Release is available in French & Dutch.

You can read the press release in Dutch & in French