The Brussels Office Market Q1 2021
More volume, (much) less transactions
- Occupier activity surged in volume to 113,600 sq.m., but dropped in number of transactions. Green projects take the lion’s share of take-up.
- Higher vacancy to 7.8%, we expect a rise of structural vacancy while new projects should fill-in fairly easily.
- Stabilisation of prime rents at €315 / sqm / year.
- Lower prime office yields, to 3.75%. There is still compression potential as long term investors appetite for core products is strong.