Belgian office market reaches a record investment volume

Spotted in @lecho

"Only 5 countries around the world have seen an increase in real estate investment volumes in 2022, compared to last year. And Belgium is one of them," said Charles Lasserre during the press presentation of the Belgium office market analysis carried out by Colliers Belgium.

2022 is a record year with a total investment volume that should exceed the 6 billion Euros, which would be up by +24% compared to 2021. The successful takeover bid by the Canadian group Brookfield for all the shares of the SIR Befimmo for 2.7 billion euros is obviously an exceptional transaction. "But besides this, Belgium has seen a number of significant sales, well above 100 million euros each" said David Vermeesch, the other newly appointed director of Colliers Belgium. This refers among others to the acquisitions of the Engie towers, the Palais d'Egmont 1 and 2, the North Galaxy towers, AXA's former headquarters (ex-Royale Belge) and the Marquis building.

At JLL Belgium, current prime yields are estimated at 4% (for 3.35% at the end of 2021), with, as a result, a revaluation of assets. 2022 will probably mark the end of a 13-year bull cycle. "We are also expecting a very marked reduction in the volume of investments - all asset classes combined in 2021", warns Adrian Glatt, head of the Investment department.

Read more in L’echo report by Philippe Coulée >> [ 2022, année record sur le marché de l'investissement ciblant le bureau ] >>