Despite the slower occupier activity throughout the year, office investment remains robust
- Gross office take-up was 35,500 sq m in Q4, almost doubling the area occupied in the previous quarter. The full year recorded a 29% drop y-o-y to 138,000 sq m.
- Relocation was the main driver for office activity in 2020, accounting for 62% of take-up.
- At the end of 2020 the vacancy rate was 6.8%.
- A total of 45,300 sq m were completed or fully renovated during 2020 representing the highest office stock addition since 2011.
- Prime rents remained stable, similar to what was observed in previous quarters.