ON POINT: Brussels City Report Q4 2009. Jones Lang Lasalle

Belgium

Research Report Details

Worldwide > Belgium > Research > Research Report Details

ON POINT: Brussels City Report Q4 2009

What do these icons mean?

- You can view this document directly.

- You need to login to view this document.

- You need to request access to view this document.

Recently Viewed:

411,000 m² of office space has been taken up during 2009. This is ‘only’ 14% below the 2008 figure, especially thanks to a very active fourth quarter.
The vacancy rate increased from 9.2 % to 11.2% over the year, following a high speculative completion level (253.000m²) and modest take up in existing buildings.
For 2010 the speculative completion level is expected to reach 142.000m², 43% lower than in 2009. This, combined with some large pending occupier demands, could push vacancy back down in 2010.
The Brussels prime face rent now stands at € 265 /m²/yr, a 4% drop since Q4 08. The gap between facial and economic rents increased further.
The overall real estate investment volume in Belgium for 2009 (EUR 1.46 billion) was low, but the revival in the second half of the year is promising.
Prime yield (6/9 year leases) stands at 6.25% in the Leopold District and Pentagon, no further decompression is expected.