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Brussels Office Districts Brussels Office Districts

Insights

The Brussels Office Districts

Some insights on the actual situation of the main office districts in Brussels as well as some previsions for future occupiers and investors on how these areas will perform in terms of leasing and investment. 

The North District

Important challenges ahead in a new office paradigm

The COVID-19 outbreak has changed and is still changing the European office market, with impacts on the activity (take-up), vacancy rate, future pipeline and rental levels. In the longer term, the COVID-19 outbreak will contribute to a profound reshaping of the way we work and use the office. 

The Brussels office market is not an exception in this European context. While the 2021 take-up was above average, we still forecast potential increase in the vacancy rate and/or slight decrease of the average rental levels in the coming months. 

In this fast-evolving context, at the end of 2021, the North district successfully faced its different challenges: 

- Absorption of the important pipeline thanks to different public authorities
- High level of take-up thanks to private tenants (re-)locating in the area
- Vacancy rate still at a low level though on a slight increase
- Redevelopment of public spaces

However, new challenges arise and will contribute to a profound mutation of the North district...

READ MORE EXTERNAL LINK

The Airport District

Strong performances even in challenging times

The COVID-19 outbreak has unprecedented impacts on the Brussels office market, affecting take-up (globally 50% down in 2020 compared to 2019) with potential increase in the vacancy rate and/or slight decrease of the rental levels. The office market will have to face the growing working from home trend, raising challenges for the upcoming pipeline while coworking operators currently witness and could continue to observe difficulties to fill in their coworking centres. 

However, in this context, the Airport District continues to perform well and to attract both occupiers and investors. The future pipeline is important and could weigh on the vacancy rate, though enhancements in public transportation accessibility could benefit to some specific locations. 

Eager to know more about the Airport District?

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Coming Soon

Scheduled for May 2022

Latest MarketBeats

Brussels Office Marketbeat
Office Brussels Marketbeat

Office Marketbeat is a summary of the Brussels office property sector providing comment on recent trends as well as market data and analysis.

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Belgium Regional Office Marketbeat
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Office MarketBeat is a brief summary of the office sector in key cities across Belgium, providing comment on recent trends as well as market data and analysis.

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Our Office Districts Experts

Michael Despiegelaere
Michael Despiegelaere

Head of Capital Markets
Brussels, Belgium


+32 2 546 08 59

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Cedric Van Meerbeeck
Cédric Van Meerbeeck

Head of Research & Marketing
Brussels, Belgium


+32 2 510 08 27

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