Flanders feels the benefit as companies desert Brussels
Commercial property rentals in some Flemish cities are up because of businesses abandoning the traffic and costs of the capital
Boomtown
Last year in Brussels, 40% less office space was sold or rented than the year before, while commercial property rentals increased in Flanders – by 4% in Ghent, 21% in Leuven and a whopping 85% in Mechelen. Both Mechelen and Leuven are close to Brussels.
The capital still holds the most office space of the three regions, with a total of 288,000 square metres, but the market is in decline. One of the main reasons, Ceusters told Trends magazine, is mobility: three in four companies say they are difficult to access by car – one of the reasons many opt for a base in Flanders.
“Many spin-offs and start-ups, as well as established companies and government departments, are more often making a conscious choice of one of the Flemish provincial cities,” said Louis De Clercq of Hugo Ceusters-SCMS. “Mechelen, Ghent, Leuven and other towns are growing more and more into fully fledged office cities.”
Aside from those, Antwerp had a troubled year following good performance in 2014, but still managed to see the number of property transactions increase by 7%. And the decentralisation extends into Limburg, where the Euregio project is attracting young new businesses.
Photo: Brussels North office quarter
©Szilas/Wikimedia
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