HOME      NEWS           AGENDA           LIBRARY           NETWORK           PROJECTS           NEWSLETTER           ABOUT US     

Brussels market slips in first half

As we move into the second half of the year, broker JLL has compiled the key figures for the Brussels office market for the first half.

Second quarter take-up of 137,000 mē brought the half year total to 225,000 mē. Both of these figures are down on last year, by 20% and 15% respectively. Take-up was hugely dominated by corporates, which accounted for 61% of the total. Virtually all of the rest was made up of local administrations (37%) leaving just 2% for international administrations, and nothing at all for the European institutions.

Where vacancy is concerned, this has decreased again, now standing at 8.8%, against 9.4% at the end of the second half of 2016. The really good news (except for those bodies looking for space) comes in the CBD, where vacancy is just 4.7%, a tiny fraction higher than a year ago.

Investors have not been quite as active as last year, with 844 million Euros placed in Brussels offices, some 9% lower than last year. Prime yield has compressed slightly to 4.5%.

Looking forward, JLL Head of Office Agency Erik Verbruggen expects take-up for the second half of the year to be similar to the first, leaving 2017 a little behind 2016. The European institutions are negotiating in various domains, but are unlikely to impact take-up figures this year.










| 17/07/2017

share:    facebook  twitter 

News in short
Prestige residential development on Avenue Louise | 14/6
Xavier Denis joins AG Real Estate | 13/6
Award for Tivoli | 11/6
Lunch with a fascinating architect | 5/6
Besix RED turns 30 | 1/6
Xavier Denis leaves Cofinimmo | 30/5
Atenor sells City Dox senior home | 29/5
Retirement homes market booming | 24/5
Pulse brings new life to Molenbeek | 22/5
Realty - out with the old... | 18/5
New look Realty smaller but attractive | 17/5
New SME park and retailing at Wavre South | 15/5
Docks Bruxsel changes hands | 14/5
Triomphe - turning workspace on its head | 7/5
Third edition of Exemplary Buildings | 4/5
Brussels faring well at European level | 2/5
Housing - the big picture | 25/4
Retail activity quarter one | 23/4
Club Med confirms co-working surge | 18/4
Larger companies targeted by citydev | 16/4
Flexible workspaces - a key corporate trend | 12/4
Hotel sector well on the way back up | 10/4
AXA buys Passport | 9/4
Botanic Tower changes hands | 5/4
Commission launches mega-project | 4/4
Realty heading for the seaside | 3/4
Office space evolving - CBRE | 26/3
Belfius Smart Belgium Awards: context and winners | 22/3
Antwerp looks to the future | 20/3
Manufacturing must be in the mix - citydev | 19/3
MediaPark in the spotlight at Mipim | 16/3
Mipim Awards for Antwerp and Brussels | 16/3
Charleroi in major regeneration | 14/3
Forward-looking Mipim opens | 13/3
Atenor emphasises 'political will and means' | 13/3
First quarter low on take-up, high on investment | 12/3
'The One' kicks off P.U.L. with a major letting | 9/3
SECO - focus on quality from new CEO | 8/3
Major residential conversion on Bld. de la Woluwe | 7/3
OVG REAL ESTATE, creator of the Edge in Amsterdam, is to develop new generation of Smart Buildings | 6/3


back