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 m² brought the half year total to 225,000 m². 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
Arcadis continuing to expand | 22/2
'The Royal' brings more life back to city centre | 21/2
Trio changes hands | 20/2
Senior appointments at CBRE | 19/2
Towards uniform valuations | 15/2
Cofinimmo sells Egmont complex | 14/2
New chief at Cofinimmo | 9/2
Major E 313 logistics transaction | 8/2
Eric van Dyck back at Cushman | 7/2
Favourable opinion for Biestebroeck | 6/2
Record entries for Belfius Smart Belgium Awards | 2/2
National stadium gets a 'No go' | 31/1
Four Belgian finalists at Mipim Awards | 30/1
Another good year for logistics - JLL | 26/1
Woluwe sale raises the bar | 24/1
Lunch with a pragmatic Swiss architect | 23/1
Major Genappe project gets green light | 18/1
'Child prodigy' to speak at Mipim opening | 17/1
Quares to expand portfolio of student flats | 15/1
New care home contract in Middelkerke | 12/1
Grand Poste Liège - new look revealed | 10/1
2018 set to be positive - Cushman & Wakefield | 9/1
Eurostadium - another major delay, or worse. | 8/1
Wallonia to ban out of town shopping centres? | 4/1
Antwerp heading for a record | 20/12
Hotel market regaining health | 19/12
Mipim to look at new role of cities | 15/12
Belliard 40 attracts pre-lets | 14/12
Good public sector year - JLL | 13/12
Delta tower: Japanese/Belgian team wins competition | 13/12
New perspectives for the redevelopment of the Val-Saint-Lambert site in Liege | 12/12
Befimmo to buy Arts 56 | 12/12
Immobel acquisition in France | 11/12
The future of retailing - CBRE vision | 7/12
Belfius Smart Cities and EIB in La Panne initiative | 5/12
Quartier des Arts - defending Brussels heritage for 50 years | 4/12
SNCB – properties for sale? | 1/12
Mapic in tune with the times | 30/11
URBACT: the theory and the practice at Brussels conference | 28/11
Renewable energy innovation in Godinne hospital | 27/11


back