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Brussels Offices and Belgium Investment - H1 2014

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Standard & Poor’s raised Belgium’s credit rating from AA with negative outlook to AA with stable outlook, a sign that uncertainty due to the crisis is abating.

Brussels take-up reached 231,000 sq m in H1 2014, 8% above H1 2013.

The public sector accounted for 54% of Brussels take-up in H1 2014.

The Leopold district was very active with 32% of the take-up (74,520 sq m) and was boosted by the pre-letting of 36,000 sq m by the Belgian employment services.

The vacancy rate decreased to 9% in Brussels due to a low level of new developments coming to the market.

Prime rent was recorded on the Schuman roundabout at €285 per sq m/year.

Belgian investment volume stood at €1.3bn in H1 2014, 3% above H1 2013 level.

The investment market was helped by several large transactions in Q2 2014 such as North Galaxy in Brussels and the Kievitplein in Antwerp.

The office sector accounted for the largest amount of volumes at 67%.

Source : Savills

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