Business Immo, the real estate website
Property Times

Europe : Rebound on track despite slow start - Q1 2014

A research produced by

Having analysed our research figures for Q1 2014 and comparing them to 2013, we believe that there is now more new supply to come and less take-up of office space in Europe. However, the economic recovery projected for Europe remains on track. This will push occupiers demand for office space to pick up in the next quarters and support stronger take-up volumes. In this context, we anticipate a 2.4% increase in prime rental values in 2014 and 2.6% in 2015. This is a tripling of the 0.8% rental growth recorded in 2013. We show our key findings below, with key evidence provided in the following pages.

Our latest analysis shows that, aggregate office take-up across Europe had fallen to 2.5 million sq m in Q1 2014, down by 17% q-o-q but only a 2% decline on yearly basis. Corporate occupiers still move cautiously as they remain focused on cost savings. This is consistent with the stable turnover ratios across Europe, with UK and Southern Europe pockets of positive activity.

Source : DTZ (Groupe UGL)