Source: Cushman & Wakefield.
The Brussels Greater Area has a large selection of modern and affordable office space. Prime office rental costs are among the lowest in Western Europe.
Brussels office real estate market
|Total office stock||13 million m2|
|Prime nominal rent||275 €/m²/year|
|Average vacancy rate||10%|
Over the past years, investments in Belgian commercial real estate have grown steadily. Numerous projects have building permits and are expecting to come to market in the future. In combination with the current vacancy rate of 10%, the market can absorb both immediate and future demand.
Brussels’ office market offers a large variety of space, ranging from smaller buildings in the Louise area, known for its high-end stores and luxurious residential neighborhoods, to high-rise buildings which caters to occupiers in need of substantial amounts of office space. Prime locations are well served by public transportation, connecting commuters to the international train stations.
The European Institutions, financial services and law firms are located in the central business district (CBD), while multinationals prefer non-CBD location owing to lower rents and availability of larger surface.