Brussels Office Market Report Q3 2018: Below averages
Take-up over the nine months period amounts to 251,000 sq.m., 17% below last year and 13.5% under the 5 year average.
Q3 was marked by the return of European institutions on the demand side after nearly two years of absence.
Vacancy decreases again slightly to 8% and could decline further in Q4. A material increase is expected in 2019.
Prime rents stabilise at €315 / sq.m. / year, while average rents are at all-time-high.
Investment volume in 9M 2018 is up 33% y-o-y to €3.2 bn. It is already certain that volume by year-end will substantially exceed the €3.5 bn recorded in 2017.