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.
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