Occupier confidence is boosting prime office take-up across Europe, with London seeing a 39% year-on-year increase in 2013, while Dublin and Madrid show healthy improvement, according to CBRE.
Occupier confidence is boosting prime office take-up across Europe, with London seeing a 39% year-on-year increase in 2013, while Dublin and Madrid show healthy improvement, according to CBRE.
The firm’s EMEA Office report shows take-up in Dublin increased 24% year-on-year in 2013, while Madrid saw take-up double from Q3 to Q4. It also revealed that Warsaw reached its highest-ever office take-up, with 457,000 m2 leased in 2013.
The surge in demand in the City of London saw rental growth there for the first time since 2010, with rents rising by 4.5% in Q4.
‘The overall picture is a positive one, with the economic uncertainty that constrained occupiers for the past two years beginning to dissipate, evidenced by increased corporate confidence to lease and acquire space. This has resulted in increased take-up levels putting upward pressure on rents in a number of markets,’ said Richard Holberton, head of EMEA research at CBRE.
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