Report's key takeaways

• General inflation increased in Q2 to 3.7% Core inflation continued its overall downward trend and is now standing at 3.0%.
• The ECB lowered its three key interest rates on 12 June, 2024 by 25 bps each for the first time in 5 years.
• Take-up volume at 117,905 m² was carried by 3 big ticket transactions in Q2.
• Prime rent increased to 390 €/m²/year, with changes noted in several submarkets.
• Vacancy remained stable at 7.5%, mainly driven by availability in grade C office buildings.
• No office completions in Q2 2024, but a lot is in the pipeline for the remainder of the year.
• Core office investment activity remains depressed. The Cityfoward fund acquired a large portfolio in Leopold.