HOME      NEWS           AGENDA           LIBRARY           NETWORK           PROJECTS           NEWSLETTER           ABOUT US     

Rents on the way up at last?

On the eve of Realty, broker JLL is reporting some positive signs in terms of renatl levels in Brussels. Signs which may, after years of speculation, finally break the € 300/m²/year barrier once and for all.

After years of stagnation, says JLL, positive signals are emerging from the occupier market about higher rental values. In order to secure a relocation in the right building consistent with a company’s corporate image, liable to attract the right people and in keeping with intelligent use of energy resources, more and more occupiers are ready to pay the right price. The supply-side has hardly changed so far, and new projects with a strong identity and excellent green credentials are still very scarce in the best locations. At the same time as employment perspectives have improved, corporates – and administrations – are returning to the occupier market with new demands and selection criteria that have a limited corresponding offer.

Higher requirements on the demand side will inevitably lead to rising prices if supply is slow to adapt. Prime rents in Brussels overall haven’t changed for some time, but at submarket level, increases of 2-3% have been recorded. At MIPIM, it was rumoured that Facebook is to pay € 350/m²/year in the Regent Park building at the intersection of the Pentagon and European district: this is 27% above current prime rent of Brussels. In the European district, a landlord is reported to have decided not to sign for a 3,000 m² lease at €285/m²/year, 4% above current prime rent, because he was convinced he would find another, less risky, tenant at the same price. Most projects in the CBD are asking a 10-15% premium to current prime headline rent. Top quartile and weighted average rents in Brussels overall are also upward oriented.

| 15/05/2017

share:    facebook  twitter 

News in short
Realty: developing the business model | 20/10
Dockx Bruxsel: success, challenges and for sale | 17/10
Investment in residential attracts CBRE offering | 11/10
Blue Colibri buys in Luxembourg as well | 9/10
Arts 20 changes hands | 6/10
Cushman acquires Admos | 4/10
Cushman completes acquisition of DTZ Luxembourg | 3/10
DDS - new name and working concept | 2/10
M Square helps rebuild the image of Molenbeek | 27/9
A.S. Adventure and Juttu to replace Marks & Spencer | 25/9
Political flavour to Editions & Séminaires event | 21/9
New CEO at Arcadis | 19/9
Move for AkzoNobel | 17/9
AG clears the way for Tweed development | 13/9
Cofinimmo moving with the times | 11/9
Major sale on the Meir | 8/9
Immobel has a busy first half | 7/9
New avenue for citydev in the circular economy | 6/9
New acquisition via takeover by HIB | 1/9
Workspace design - the concrete results | 31/8
Brussels Canal : Biestebroeck back in the spotlight | 24/8
Major sale in Corporate Village | 22/8
Parking 58 closes at 59 | 21/8
Atelier Rebul heads for Belgium | 18/8
New investor for Leopold District | 17/8
Time for a break | 20/7
Logistics market flying high | 19/7
Brussels market slips in first half | 17/7
Progress in Canal zone | 12/7
M&G Real Estate makes first acquisition in Luxembourg | 11/7
DBFM formula with AG Real Estate for Goodyear Innovation centre in Luxembourg | 10/7
With Facebook's lease, Brussels reaches the 300€/m2 prime rent | 6/7
Atenor attacks Paris market | 5/7
Liège Coronmeuse moves to concrete stage | 3/7
Antwerp riding high and 'on trend' | 20/6
Call for tenders at Delta Brussels district | 15/6
International and heavy newcomer to Belgian flexible office scene | 14/6
Mapic to highlight F&B | 13/6
SCMS group, awarded for efficient shopping centers management | 12/6
Lunch with out of the ordinary Julien de Smedt | 9/6