Demand slump to push prime rents down by 8.1%
Demand slump to push prime rents down by 8.1%
- 2009
- EuroProperty 6 April 2009, 26(1) .
The European office market will be hit by a further drop in prime rents this year according to the latest Savill's "European Office Markets" report as oversupply and lack of demand kick in. Comments on leasing activity, lending restriction rapidly shrinking the development pipeline, and average prime yields' movements. King Sturge reports that the number of new office enquiries in the UK fell in the last quarter of 2008 to its lowest level since 2004. Table covers prime European rents and yields, Q4 2008.
Europe
United Kingdom--
The European office market will be hit by a further drop in prime rents this year according to the latest Savill's "European Office Markets" report as oversupply and lack of demand kick in. Comments on leasing activity, lending restriction rapidly shrinking the development pipeline, and average prime yields' movements. King Sturge reports that the number of new office enquiries in the UK fell in the last quarter of 2008 to its lowest level since 2004. Table covers prime European rents and yields, Q4 2008.
Europe
United Kingdom--