Key insights highlight a cautious recovery, marked by a strong trend towards asset regeneration, despite ongoing challenges
News release
09 December 2024
Annual Press Conference, Regeneration underway despite challenging investment climate
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You can read the press release in Dutch & in French
Brussels, December 10, 2024 – JLL, a leading player in the Belgian real estate market, has released its 2024 report on the Brussels office market. Key insights highlight a cautious recovery, marked by a strong trend towards asset regeneration, despite ongoing challenges.
Cautious Market Recuperation:
Slight Increase in Occupancy. Our estimates suggest that office take-up will reach 325,000 square meters by the end of December, reflecting a 5% increase compared to 2023; however, it remains below the five-year average of 379,000 square meters. Thus, the outlook for the Brussels office market remains mixed.
Christophe Golenvaux, Head of Office Agency Brussels and Wallonia at JLL, notes: "The standout feature of 2024 is the record proportion of 'Grade A' properties in transactions. These assets, five years old or younger, either existing or under construction, represent 56% of total transaction volume based on our estimates as of the end of November. This significant rise surpasses 46% in 2023 and the five-year average of 44%. This trend reflects a growing demand for modern and sustainable office spaces." [...]
The complete Press Release is available in French & Dutch.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.