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Market report

European Offices - Summer 2012

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Market report European Offices

At the end of the first half of 2012, the economic recession has worsened in the peripheral markets and the risk of a spill-over effect to the core economies has increased. Take-up decreased by 4.2% yoy on average in 1H 12, although some markets recorded a very strong Q2. According to our estimates take-up will pick up in most markets in the second half of the year, though annual take-up will drop by 7.7% on average in 2012. Average vacancy rate decreased marginally as supply levels keep dropping. Very low completion levels which are now 47% below the peak volume in 2009, are having a stabilizing effect on rents. 

Source : Savills

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