Brussels Office Market Dynamics, Q2 2025

Development projects are helping to stimulate tenant activity, though overall market absorption remains below normal levels despite significant space commitments from the European Union.

Vacancy rates showed minimal change, rising slightly to 8.0% from 7.9%, partly due to the completion of AXA's Luxia project entering the market.

Prime office rents have been reaffirmed at €400/sq.m./year, with a second notable transaction closing at this price point, while rates in other districts remained stable. Meanwhile, citywide average rents increased by 6% to reach a new record of €189/sq.m./year.