Summary and analysis of Belgium's current office capital markets conditions
Insight
Belgium Office Capital Markets Market Dynamics, Q4 2024
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Prime office yields maintained at the same level as last year in Brussels while slightly increasing in Antwerp, risk premium of property investment vs. bonds is hence progressively returning.
Office investment volume surged by 68%, though mainly due to the sale of the City Forward portfolio while the rest of the market is on a wait and see mode. In the last days of 2024, however, we saw core investors coming back to the market.
2025 is seen as a transition year with a progressively renewed interest for core transactions from institutional investors, possibly with yield compression resulting from the expected additional rate cuts and the subsequent ease on financing costs.