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European Offices - June 2016

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Overall office demand remained strong in Q1 16 but eventually take-up was restrained by the lack of good quality supply, especially in CBD locations. Suburban areas have benefited from this tight supply market situation.Tenants sometimes have no other choice other than to extend their existing leases.

Office take-up is increasingly driven by business expansion which explains the growing demand for small and medium sized office floor space in various cities.

Limited office development combined with strong levels of take-up dried up supply across Europe. Although the office pipeline suggests a rebound in development activity (22%) this year, it will not be sufficient to meet the demand in most European cities.

Source : Savills

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Keywords : Savills