Press

The slowdown in rental activity seen from late 2022 in some European markets then spread and was confirmed in 2023. This was due to the uncertain economic and geopolitical context and structural changes in the way offices are used. All told, take-up for the year came to 7.6 million sqm across the 17 main European markets*, down 19% vs 2022. This was 16% lower than the long-term average.

In this eighth edition, “The Lighthouse H1 2024 – European Property Market Outlook”, BNP Paribas REIM presents its outlook for the European real estate market using its in-house forecasts, analysis and the expertise of its local teams. Here BNP Paribas REIM defines its convictions and investment opportunities for the beginning of 2024 and beyond.

For many years, BNPPRE BELGIUM has been supporting major socio-economic changes to offer increasingly innovative property management, focused on UX and closely aligned with the expectations of investors and institutions who wish to enhance their assets. In 2023, and thanks to its comprehensive range of services for owners and users of tertiary and residential buildings, the group is strengthening its position as the leader in the sector with 3,813,953 m2 under management.

Investment in retail premises declines in Q3, but fundamentals are sound. The decline in retail property investment is less pronounced than for other asset categories. 

BNP Paribas Real Estate Belgium advised MEAG Munich RE on the purchase of all the shares of AGRE Office Invest II, owned by AG Real Estate, holding the prestigious City Center building. The site consists of approximately 31.000 sq. m spread on eight floors, ideally located in the heart of Brussels, in front of the Place Rogier.

On the proposal of Thierry Laroue-Pont, Chairman and Chief Executive Officer, BNP Paribas Real Estate has integrated a new generation of managers from business lines and strategic support functions into its Management Board appointing six new members.

Located close by the Brussels South station, The Rails is made of two distinct assets, a 7-storey office building dating from 1955 and fully renovated in 2003, and a modern mixed-use construction built in 2004, combining offices and warehousing accommodations.

The logistics market in Europe proved resilient despite a difficult political and economic environment.