Research
Brussels Office Market Dynamics, Q4 2024
Summary and analysis of Brussels' current office real estate market conditions.
January 14, 2025
Contributors:
- Pierre-Paul Verelst
- Vincent Van Brée
- Christophe Golenvaux
- Alexandre De Wagheneire
Q4 confirmed the recovery initiated earlier though less than previously anticipated. 2024 closed on a moderate take-up growth while 2025 appears far more appealing with a substantial transaction flow from European institutions.
On a quarterly basis, vacancy narrowed to 7.8% thanks to several lettings in the recent deliveries.
Prime office rents are rising further to a new high of €400 / sq.m. / year, achievable in the European District. Projects in all districts are trading at higher rents vs. previous benchmarks.