Property Report main office markets in Western Europe - Q2 2012
Property Report main office markets in Western Europe - Q2 2012
- [S.l.] BNP Paribas 2012
- BNP Paribas Property Report Main Office Markets in Western Europe July 2012 .
The negative economic context caused a further drop in letting activity in major Western European markets in Q2 2012. Office space vacancy rates have stabilised as completions are still relatively low, but rents remain under downward pressure in the weakest occupier markets. Office investment is proving resilient despite the downturn and uncertain occupier fundamentals. Q2 was marked by the return of uncertainty. Office take-up remained below 2011's level in major markets but office investment volume strengthened further in Q2. Prime yields rose slightly in the weakest occupier markets.
Europe
The negative economic context caused a further drop in letting activity in major Western European markets in Q2 2012. Office space vacancy rates have stabilised as completions are still relatively low, but rents remain under downward pressure in the weakest occupier markets. Office investment is proving resilient despite the downturn and uncertain occupier fundamentals. Q2 was marked by the return of uncertainty. Office take-up remained below 2011's level in major markets but office investment volume strengthened further in Q2. Prime yields rose slightly in the weakest occupier markets.
Europe