Research
Antwerp Office Market Dynamics, Q4 2024
Summary and analysis of Antwerp's current office real estate market conditions.
January 21, 2025
Contributors:
- Pierre-Paul Verelst
- Steven Peeters
- Vincent Van Brée
- Alexandre De Wagheneire
Occupier activity in 2024 declined after three consecutive excellent years. It is partly explained by the absence of administrations in the market due to elections, though corporate activity also went down.
The vacancy trend reverted with an increase to 4.4% due to a large completion. Based on the projects currently underway, however, void space should remain low at least for the next 18 months.
Prime rents in Antwerp are maintained at €200/sq.m./year and should rise to €210/sq.m./year as early as Q1 2025.
