Research

OFFICES- Wallonia Office Market Research Report Spring 2023

Regeneration of the Walloon office market is on track

April 03, 2023
Contributors:
  • Pierre-Paul Verelst

The Wallonia office market is largely driven by demand from administrations that are replacing old buildings by new, energy-efficient projects connected to railway stations. The need to rejuvenate stock creates opportunities for both occupiers and developers, though as in Brussels the permit process is long and complex. Vacancy is increasing in most cities which contributed to stabilise rents. Property investment in Wallonia is limited compared to Flanders, though the past 24 months we recorded representative deals in Namur and Charleroi.

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