Summary and analysis of Brussels' current office real estate market conditions.
Insight
Brussels Office Market Dynamics, Q1 2025
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Take-up is surging driven by a huge, long expected, deal by Proximus. Behind the figures, the normal flow of transaction is reduced.
Limited movements in vacancy that stays at 7.9%, importantly a large share of vacant space across all districts is obsolete and needs retrofitting.
Prime office rents are unchanged compared to Q4 2024 at €400 / sq.m/ year but increased by 14% in the North district.