Antwerp Office Market Dynamics, Q1 2026

Weak Q1 activity: Take-up fell to just 12,492 sq.m. (down 14% y-o-y and 48% below 5-year average) due to geopolitical uncertainties and energy price concerns, though deal count increased 12% to 29 transactions with smaller average sizes.

Tight supply drives rents higher: Vacancy compressed to 3.6% with only 86,000 sq.m. available citywide, pushing average rents to a record €144.6/sq.m./year while prime rents held at €200/sq.m./year, and prime yields decompressed to 6.0%.

Limited Future Supply: With virtually no speculative development pipeline for 2026-2028, vacancy will likely continue declining and prime rents are expected to rise to €210/sq.m./year from Q2 2026 in Center and Ring districts.