Strong division in Brussels office market

Recent research of King Sturge reveals that the Brussels office market is getting more and more divided. Due to the establishment of European institutes in the very popular Leopold district, the rentals in this area raise incredibly fast. In the nineteen Brussels communities the number of empty offices rised up to 9,7%; in the Brussels region up to 26,5%.

In 2003, the total amount of office space in Brussels was 639,529 sqm, an increase of 42% compared with the previous year. Responsible for this increase were the federal, provincial and European governmental institutions. In the center of Brussels, the governmental institutions signed for 90% of the office space. In 2003, the increase of office space in the periphery totalled 88,416 sqm, 44% less than the 158,000 sqm in 2002.

The investment raised up to € 1,61 billion last year. Apart from the top year 2000, this was the highest level ever. Most investments came from Belgian and German funds, but English and Irish fund invested in Brussels as well.

Source: Vastgoedmarkt

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