The 5 assets of Antwerp’s office market
The coronavirus has a drastic impact on the office market. From 2018 to 2020, Antwerp saw the amount of occupied office space reduced by half. Furthermore, the phenomenon of teleworking has been introduced for good. In the future, the employee will spend less time at the office than before.
Nevertheless, companies and personnel still need office space. To improve the corporate culture, have meaningful social interaction and inspire each other. At the same time, the environment outside the office becomes more important. With affordable real estate prices and a vibrant cultural life, Antwerp is a pole of attraction for foreign employees. But the most important assets Antwerp has to offer for international companies, are economical. We list them here for you:
1. At the heart of the European economy
Antwerp is Europe’s best connected city. Roads, waterways, air traffic, railways, … every major European logistics chain passes in Antwerp. Consider the city near the river Scheldt as a hub for European connectivity.
Brussels, Amsterdam, Paris, London, Frankfurt: the economical centers of Europe all lie within a distance of 500 kilometers of Antwerp. That radius contains 60% of Europe’s purchasing power.
2. The second port of Europe
Antwerp is the second largest port in Europe, and the 11th worldwide. For many European companies, the Port of Antwerp is the link with other continents. And for many international companies, it’s the gateway to Europe.
The port provides a boost for many activities in Antwerp. It makes Antwerp the largest chemical cluster in Europe and the logistical turntable of Western Europe – and beyond. To top it all off, it’s also the diamond capital of the world.
3. Skilled, multilingual and productive personnel
Antwerp’s workforce is highly trained. Over 1 in 3 people aged between 25 and 64 have graduated from tertiary education. Antwerp is a dutch-speaking city. From an international perspective, their language skills are unique. In general, employees master several languages, most commonly English and French.
Antwerp has one of the highest education rates in the world. The same applies to the high productivity ratio of local personnel. Another advantage: their low labor cost, which lies 20% lower than in Paris and 15% lower than in London.
4. Creative and innovative pool
Antwerp counts about 8000 creative companies in the city. Both in design and fashion, Antwerp is an important international center. One in every six companies in Antwerp operates in a creative sector.
This creative environment also gives rise to a great deal of innovation. Antwerp has become a real hot spot for startups, scale-ups, incubators and accelerators. They are active in sectors from chemistry to the health sector till even space industry.
5. Affordable office space
Office space in Antwerp is more affordable than in economic centers in neighboring countries. These standardized figures compare offices of equal quality, and include both maintenance costs and taxes.