A research produced by
Take-up decreased by 2.4% yoy on average in 2011, with the strongest slowdown in letting activity in the final quarter of last year, when the slowdown in the European economy became more evident. According to our estimates most markets will report weaker (qoq) occupier activity in the first quarter of 2012, except the ones where Q4 take-up levels where considerably below their annual average (Dublin, Amsterdam). The availability of space is becoming more limited especially in the prime market segments and the overall vacancy rate has dropped by 20 basis points yoy to 10.5%. However, there is a wide gap between the highest (Dublin 23.0%) and the lowest (London, Vienna, Warsaw 6.5%) level confirming the two-tier trend of the European markets.
Source : Savills
