European office property markets 2008 [electronic resource]
European office property markets 2008 [electronic resource]
- [S.l.] King Sturge 2008
- King Sturge European Office Property Markets 2008 .
Reports that despite pockets of stronger activity, office occupational markets in Western Europe are now in the midst of a slowdown due to the global financial crisis. Total take-up to the end of 2008 in Western Europe is predicted to fall by 12.4%, following growth of 6% in 2007. In Central Europe, total take-up is predicted to grow by 13.7%, following a fall of 5.4% in 2007. Vacancy rates are set to remain stable at 7.3% in Western Europe by the end of 2008 and to 7.1% in Central and Eastern Europe. Despite the credit crunch prime office rental growth is still increasing in Western Europe, but at a reduced rate of 5.5% in 2008, compared to 10.7% in 2007. London's City and West End markets have recorded a fall in rental levels, whilst prime rents have stabilised in Paris, Madrid and Dublin. While returns at pre-credit crunch levels are not expected to be repeated, expects that office property will remain an attractive asset in the long run.
KING STURGE EUROPEAN OFFICE PROPERTY MARKETS
Europe
333.337 $2 18
Reports that despite pockets of stronger activity, office occupational markets in Western Europe are now in the midst of a slowdown due to the global financial crisis. Total take-up to the end of 2008 in Western Europe is predicted to fall by 12.4%, following growth of 6% in 2007. In Central Europe, total take-up is predicted to grow by 13.7%, following a fall of 5.4% in 2007. Vacancy rates are set to remain stable at 7.3% in Western Europe by the end of 2008 and to 7.1% in Central and Eastern Europe. Despite the credit crunch prime office rental growth is still increasing in Western Europe, but at a reduced rate of 5.5% in 2008, compared to 10.7% in 2007. London's City and West End markets have recorded a fall in rental levels, whilst prime rents have stabilised in Paris, Madrid and Dublin. While returns at pre-credit crunch levels are not expected to be repeated, expects that office property will remain an attractive asset in the long run.
KING STURGE EUROPEAN OFFICE PROPERTY MARKETS
Europe
333.337 $2 18