European office vacancy rate back to 1990s levels
European office vacancy rate back to 1990s levels
- 2003
- Jones Lang LaSalle Press Release 1 May 2003 (1) .
At the end of March 2003 the average vacancy rate across western Europe reached 7.7%, returning to the peak levels seen during the downturn of the early 1990s. On average, prime office rents fell by 8.6% during 2002. According to the latest edition of Jones Lang LaSalle (JLL) "European office property clock" report occupier demand for office space remained weak in the first quarter 2003 and leasing activity was 16% below that in the previous fourth quarter 2002. http://www.joneslanglasalle.com/news/2003/05May/PropertyClock.html
OFFICE VACANCY RATES
OFFICE SPACE
OFFICE RENTS
EUROPE
JONES LANG LASALLE
RENTAL CYCLES
OCCUPIER DEMAND
At the end of March 2003 the average vacancy rate across western Europe reached 7.7%, returning to the peak levels seen during the downturn of the early 1990s. On average, prime office rents fell by 8.6% during 2002. According to the latest edition of Jones Lang LaSalle (JLL) "European office property clock" report occupier demand for office space remained weak in the first quarter 2003 and leasing activity was 16% below that in the previous fourth quarter 2002. http://www.joneslanglasalle.com/news/2003/05May/PropertyClock.html
OFFICE VACANCY RATES
OFFICE SPACE
OFFICE RENTS
EUROPE
JONES LANG LASALLE
RENTAL CYCLES
OCCUPIER DEMAND