Research

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.  

 

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