Wednesday, 15 October 2025
Brussels’ office market has entered the second half of 2025 in a phase of cautious stability, marked by strong demand in prime locations and a slight rise in vacancy across the wider city. Analysts say the balance between new supply and ongoing occupier consolidation is shaping a market that remains resilient despite slower economic momentum across Europe.
Figures from several leading property consultancies show that prime office rents in Brussels are holding at around €400 per square metre per year, with average rents across the city up roughly six percent compared to a year earlier. The vacancy rate has edged just above eight percent, reflecting a mix of newly completed buildings and selective relocations.
Leasing volumes have been moderate, with total take-up estimated at 130,000–140,000 square metres by mid-year. Activity continues to centre on the European Quarter and Leopold District, where occupiers prioritise energy-efficient buildings that comply with tightening ESG regulations. Older and less sustainable stock, however, is seeing longer void periods, prompting owners to consider refurbishment or conversion options.
“The market remains segmented,” one Brussels-based consultant said. “We see steady demand for green, well-connected offices, while older assets outside core districts face rising pressure to adapt.”
Construction levels remain controlled. Approximately 35,000 m² of new space has been delivered since January, with a further 60,000 m² expected by year-end. Development pipelines are largely pre-leased, limiting the risk of oversupply.
Investment activity has picked up modestly as financing conditions stabilise. Prime yields have hovered around 5.1 to 5.2 percent, supported by investor interest in sustainable refurbishment projects and long-term income assets.
Outlook for 2026 remains cautiously optimistic. Analysts expect demand to stay concentrated in high-performance buildings as tenants consolidate footprints and favour flexible, collaborative layouts. While economic headwinds could dampen activity in the short term, Brussels’ role as a European administrative hub continues to underpin steady occupational demand and investor confidence.
