garage commercial space for rent brussels · article
Garage, commercial space, office and student room for rent in Brussels
Renting a garage, commercial premises, office or student room in Brussels: rents, legal framework and specifics for each type of non-residential property.
Beyond the conventional residential market, Brussels offers a diverse rental market encompassing garages, commercial premises, offices and student rooms. Each type of property is subject to a distinct legal regime and has its own yield characteristics. This guide details the specifics of each in the Brussels-Capital Region.
Garages and parking spaces
A tight market
Parking is a major issue in Brussels. The regional policy to reduce car use in the city (general 30 km/h zone, pedestrianisation, removal of on-street parking spaces) is reinforcing demand for private garages and parking spaces, particularly in central municipalities.
Rents by zone
- City centre and Pentagon: €150 – €250/month (closed box) / €100 – €180/month (space)
- European quarter: €140 – €220/month (strong institutional demand)
- Ixelles, Saint-Gilles: €120 – €200/month
- Inner ring (Schaerbeek, Etterbeek, Forest): €100 – €160/month
- Outer ring (Woluwe, Auderghem, Uccle): €80 – €140/month
- Peripheral municipalities (Berchem, Ganshoren, Evere): €70 – €120/month
The legal framework
Renting a garage is subject to an ordinary-law lease (neither a residential lease nor a commercial lease). The duration is freely set (often one year, renewable) and the notice period is generally one month. If the garage is let together with a dwelling in the same building, it follows the regime of the principal lease.
Rental yield
With a purchase price of €25,000 to €45,000 and a monthly rent of €100 to €200, the garage offers a gross yield of 4 to 9%, among the best in the Brussels property market, with minimal management (no EPC, no habitability standards, little maintenance).
Commercial premises
The commercial lease in brief
The commercial lease is governed by the Act of 30 April 1951. Its main features:
- Term: minimum nine years
- Renewal: the tenant has the right to three successive nine-year renewals (36 years in total), except on legal grounds for refusal
- Eviction indemnity: if the landlord refuses renewal without legitimate grounds, they must pay compensation of one to three years’ rent
- Assignment: the tenant may assign their lease together with their business
Commercial rents in Brussels
Commercial rents vary enormously depending on location:
- Rue Neuve (main pedestrian shopping street): €1,000 – €2,500/m²/year
- Avenue Louise, Toison d’Or: €500 – €1,200/m²/year
- Secondary shopping streets: €150 – €400/m²/year
- Residential neighbourhoods: €100 – €250/m²/year
Commercial rent is generally expressed in €/m²/year and subject to triennial review based on changes in economic circumstances.
Commercial vacancy
Brussels has a significant commercial vacancy rate (10 to 15% in certain streets), linked to the transformation of retail (e-commerce, changing consumption habits). Owners of vacant commercial premises would do well to consult an expert to determine whether conversion (office, housing) would be more profitable.
Offices
The Brussels office market
Brussels is Belgium’s leading office market, with more than 13 million m² of floor space. The market is segmented:
- European quarter (Schuman, Loi, Arts-Loi): pole for European institutions and lobbies, rents of €250 to €350/m²/year
- City centre: national companies and public administrations, rents of €180 to €280/m²/year
- Decentralised (Louise, North): €150 to €250/m²/year
- Peripheral: €100 to €180/m²/year
Office-to-housing conversion
The Region encourages the conversion of obsolete offices into housing through planning and fiscal incentives. This trend creates opportunities for owners of vacant or underused office space.
Student rooms
Specific regulations
Letting student rooms in Brussels requires a planning permit for a change of use (communal accommodation). Failure to comply with this obligation is subject to sanctions and a prohibition on letting.
Rents and yield
A student room rents for between €350 and €600/month (including service charges) depending on location and facilities. A building of six to ten student rooms in the ULB neighbourhood can generate a gross yield of 6 to 8%, higher than that of conventional flats.
Valuing your non-residential properties
Valuing garages, commercial premises and offices requires a specific approach based on rental income and market yields. Our commercial and office expertise service produces a report tailored to each type of property.
For an estimate of the rental or asset value, see our commercial and office valuation service.
Contact our firm to value your non-residential property in Brussels.