Research

Brussels Office Market Research Report Q3 2019

Recovery confirmed

 

  •  2019 is the best year of the decade: take-up of 449,000 sq.m. (+82% YoY), of which 54% in projects. 
  • Vacancy rate continued to fall from 7,6% in Q2 to 7,4%, the lowest level of the last two decades. CBD: 3,1% (vs. 3,3%, an all-time low). Outside CBD: 14,6% vs. 14,7 %. Vacant volume across all districts is estimated at 963,000 sq.m. 
  • Prime rent stabilises at the highest ever of €315 / sq.m. / y. 
  • Investment volume: €3,3 bn recorded in 9 months,  up 2% yoy. €1,8 bn invested in offices, +14% YoY, driven by large size transactions.  
  • Prime yields stabilise at 4,15% for a 6/9 lease and at 3,5% for long term leases. Compression is expected in the short term. 

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