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Belgium : Less is less - Q4 2013

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A research produced by DTZ

Belgium secondary markets : Less is less - Q4 2013

Despite a late surge of new deals in Q4 (73,000 sq m), 2013 has recorded a low level of take up, with 197,000 sq m, a 29% annual decrease in newly occupied surfaces after a dynamic 2012.

All markets except for Ghent have recorded declines in activity this year for a wide range of reasons such as market maturity, competing neighbouring markets, lack of public sector demand, and lack of supply.

A combination of demand from the corporate sector, the ability to provide large quality built-to-suit spaces in relatively short timeframes, and good visibility and accessibility are all reasons that can be pinpointed as responsible for Ghent’s increase in fortune in 2013.

The overall prime rents for Belgium’s secondary markets in 2013 are found in Leuven and Namur. Incidentally, Namur is the only market which saw an increase in its prime rent in 2013.

Source : DTZ (Groupe UGL)

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Keywords : DTZ