European office take-up to hit 9.2 million sqm in 2019

European office take-up to hit 9.2 million sqm in 2019

Published at: 2019-11-28 08:25 | Author: CIJEurope.com
European office take-up is expected to reach 9.2 million sqm by the end of 2019, down marginally by 4 percent from last year’s volume, according to Savills. A shortage of good quality, available space across Europe’s CBDs is limiting occupiers’ choices as average vacancy rates dropped from 6.1 percent to 5.4 percent over the past 12 months. “As the European economy edges nearer to full capacity, job growth will remain positive, but more modest than in recent years. The strongest growth will come from the knowledge-led sectors, including professional services, science and high-tech,” said Jeremy Bates, EMEA head of occupational markets at Savills. “The occupational story remains resilient, though European occupiers will be more cost-conscious as productivity moderates, and will therefore look to adopt new workplace strategies to boost output and control costs.”

Similar Stories:

Office investments in Poland  top €3.8bn in 2019
The real estate investment volume in Poland was a record-breaking €7.4bn in 2019, with o  »
Warsaw office market to break records in 2020
Poland’s office market witnessed significant growth in 2019 and the trend is expected to  »
CBRE: Transaction volume in commercial real estate in 2020 will reach in the Czech Republic €3 bn
Prague, 18th December 2019 – CBRE, the world leader in real estate services, predicts a  »
Wing finalizes acquisition of Echo Investment
Hungarian developer Wing has finalized its acquisition of a 56-percent stake in Echo Inves  »
Is it a priority for you to strengthen your teams in all areas or do you think it’s bett   »
How was 2018 for you? Have you been able to take full advantage of these strong economic t   »
Why has it taken so long for development of the central western portion of Bucharest to be   »
Where do you see your company going over the next two years? We are staying true to the   »