Research

Flanders Office Market Research Report
Market Overview
Autumn 2020 

The Flemish office market is hit by the sanitary crisis but resists

 

  • Significant reduction of take-up across all cities amidst sanitary crisis. Some deals signed before Q1 2020 period were cancelled.
  • Vacancy goes down again in Antwerp and Ghent, but it is expected to significantly reverse in 2021 due to completions and recent second hand buildings becoming vacant. Slight increase recorded in the other cities.
  • Prime rents increased in Antwerp and Ghent, stability elsewhere.
  • Investment activity is very strong for the office segment, large size “core” transactions signed in Antwerp and Ghent.
  • Prime office yields compressed to 4.9%, vs. 5.25% previously.

 

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