Belgian office sales predicted to rise

Belgian office transactions are predicted to rise in the coming 12 months.

Overall sales volumes in the first three months of the year have actually been lower than the same period in 2013, but Savills forecasts that they will climb during the rest of 2014, taking the total volume past €2 billion.

"Two large deals have already closed in May and several transactions that are currently in the pipeline should happen in the next few months," comments Gregory Martin, managing director of Savills Belgium.

Indeed, the year has already witness deals for offices such as North Galaxy, Onyx, Motel One and Kievitplein, the latter of which closed for circa €200 million.

Private investors account for the most activity in the Brussels market, making up 29 per cent of turnorver, just ahead of the 27 per cent made up by institutional investors.