Brussels Office Marketview Q1 2023
April 25, 2023
- Total inflation ticked up slightly in March to 6.67% after falling from its double-digit highs. Core inflation continued its upward trend.
- Take-up hindered both by limited quality space and economic uncertainty.
- Prime rent increased to 340 €/m² after a new letting in the Louise quarter.
- Vacancy remained stable at 7.48%.
- Limited office development completions in Q1, but an average-sized pipeline identified for the rest of the year.
- Office investment activity slowed, though important deals closed including Treesquare in the Leopold quarter and additional offices in the decentralised markets.