6% vacant offices in the center of Brussels, but vacancy rate is three to four times higher in the suburbs. Pressure on rents is important.
The center of Brussels has only 6% of unoccupied offices. It is not very far from what experts consider normal for the market. Suburbs have vacancy rate three to four times higher depending on location. These figures were released Monday by the real estate broker CBRE
The market adjusts to these circumstances. Many occupants renegotiate their leases, even if they are not expired, which weighs on rents. The excess supply has the same effect in the suburbs. As a result, some companies are testing the market, as some conditions may be very attractive. This situation poses a threat to the corporate presence in the center of Brussels.
Alongside the Brussels housing market is very active due to the increase in population. The demand is such that 80,000 m² of offices obsolete were recycled in housing this year. Attention say at CBRE, if companies leave Brussels, this will increase the risk of impoverishment. The city needs a specific project such as biotechnology in Luxembourg, pharmacy in Geneva or the Silicon Valley.
Some 2 billion € have been invested in 2013 on the commercial real estate market in our country. This is 5% higher than 2012. These investments were made primarily on the office market (60%), mainly in Brussels.
Source: L’echo
