Eurocrats pushing up Brussels rents

10 March 2004

BRUSSELS – Rents in Brussels will continue to rise this year thanks to the presence of the European Union’s main institutions and their well-heeled army of eurocrats, a major estate agency said on Wednesday.

According to Jones Lang LaSalle, the area around Brussels Gare Leopold, in the heart of the EU quarter, will see the largest rent rises although other areas of the city are likely to be hit too.

Analysts say the increases will particularly hit office space, although the EU-effect will also impact on the private housing sector.

Experts add that 2004 is likely to be a particularly good year for landlords in Brussels’ European quarter as ten new European Countries will join the EU in May, each sending their own contingent of Eurocrats, lobbyists, journalists and other assorted hangers-on.

Subject: Belgian news