Research

Flanders Office Market Research Report
Autumn 2023

Flight to quality boosts demand for offices

September 18, 2023

Contributors:

Pierre-Paul Verelst

Occupier demand is growing despite uncertain macro-economic context and rising interest rates. Station-locations are high in demand especially in the large cities, as well as sustainability credentials like a green certification.

Vacancy stays at low levels in most cities though increasing a bit in Ghent.

Rents are on the rise in cities like Antwerp, Ghent, Mechelen and Hasselt due to inflation and higher construction costs.

As anticipated, investment activity is slowing down but equity is available for value-add opportunities.

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