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Brussels Office Market - Dashboard Q4 2023

Quarterly key statistics of the Brussels Office Market

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Brussels

At A Glance - Q3 2023

Over the past three months, office take-up presents a mixed picture with volume reaching around 59,200 sq.m. Throughout the year, economic conditions continued to hamper the Brussels office market. Further complications come from cost optimization strategies, and a more selective approach by tenants about location and intrinsic quality of buildings. The combination of these factors has resulted in a lengthening in decision-making processes.

 

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Brussels

Brussels Office Market - Dashboard Q3 2023

Quarterly key statistics of the Brussels Office Market

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Brussels

Brussels Office Market - Dashboard Q2 2023

Quarterly key statistics of the Brussels Office Market

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Brussels

At A Glance - Q1 2023

Slowdown in activity was already noticeable in the second half of 2022, and this trend is continuing at the beginning of this year. Office take-up in the Brussels office market began the year on a low note with 71,300 m², -4% compared to Q1 2022 and -25% compared to the ten year quarterly average. Occupiers are cautious due to the uncertain economic context characterized by ongoing price increases, business slowdown and persistent geopolitical tensions. In this situation, potential tenants are more selective in their choices, giving particular attention to the property's location and quality.

 

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Brussels

Brussels Office Market - Dashboard Q1 2023

Quarterly key statistics of the Brussels Office Market

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Brussels

At A Glance - Q4 2022

A decline in take-up marked 2022 as occupiers delayed leasing decisions with the adverse financial circumstances and high inflation. Over the final quarter, 79,500 sq.m of office space was let bringing the annual volume at 282,700 sq.m. While total take-up stands far short of long-term averages, the number of transactions in the market increased and in line with the average for that metric.

 

 

 

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Brussels

Brussels Office Market - Dashboard Q4 2022

Quarterly key statistics of the Brussels Office Market

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