
Spotlight: European Office Outlook – August 2023
"Professional and business services drive European office take-up in H1 2023"
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"Professional and business services drive European office take-up in H1 2023"
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"Prime rents continued to increase over the second quarter of this year despite constraints on tenants' affordability and a slight easing in acute stock shortages. But with challenges facing the rental market, including increased mortgage costs, energy efficiency requirements and the Renters (Reform) Bill, what will be the impact for landlords and tenants?"

"Prime rents continue to increase, despite tenant’s affordability constraints and an easing in acute stock shortages"

"Scarcity of prime rental stock fuels rent growth"

"The narrowing availability of prime stock is putting pressure on office leasing across European markets"

"Yields holding but reduced deal activity creating challenges"

"Whilst demand remains strong, tenants' budgets are beginning to come under pressure with rising inflation and the increasing cost of living. As a result, we expect the gap between tenant and landlord expectations to widen in the short term with landlords who choose to price sensibly attracting the most interest"

"2022 European office take-up reached 2% above the pre-pandemic average"

"Yield softening continues across the market"

"A positive start to the year following a quiet Q4"