Brussels Office MarketView Q2 2023

European Commission relocates agencies in the North area in massive new deal

June 30, 2023 6 Minute Read

Brussels Office MarketView Q2 2023

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Report's key takeaways

  • HICP inflation continued to ease in Q2 and is expected to hit 3.4% by the end of the year, though forecasts can vary notably from different institutions.
  • Take-up volume is similar to the previous quarter, though the European Commission drove figures in Q2.
  • Prime rent remains under upward pressure, as new developments in the CBD are commercialising well, but still stands at 340 €/m²/year for now.
  • Vacancy remains stable at 7.52%.
  • Some landmark developments were delivered, such as Science 12, The BelliArt and Royale Belge.
  • Office investment activity through Q2 is weak, as an uncertain macro environment sidelines some investors while providing opportunities in off-market deals.