Demand for office space in major cities across Europe has continued to rise in the last six months, and this trend is expected to continue into 2007, according to the European Office Market Review by the international advisor GVA Worldwide. Improvement in economic conditions across the continent is boosting the demand and take-up of office space, which is leading to a continuing decline in vacancy rates. Rental growth is particularly strong in London, Dublin and Madrid, GVA said.

Demand for office space in major cities across Europe has continued to rise in the last six months, and this trend is expected to continue into 2007, according to the European Office Market Review by the international advisor GVA Worldwide. Improvement in economic conditions across the continent is boosting the demand and take-up of office space, which is leading to a continuing decline in vacancy rates. Rental growth is particularly strong in London, Dublin and Madrid, GVA said.

GVA Worldwide's Mark Bateman stated: 'The office market across major European cities is clearly benefiting from the overall growth of the economy, with increasing demand and take-up of office space, falling vacancy rates and significant investment activity across many regions. As the EU expands with the rise of new member states, new opportunities are arising for investors to take advantage of.'

Investment markets in the sector across the EU remain very strong, with record levels of investment being reached in a number of countries. The Nordic region is particularly buoyant, with record transaction volumes in Oslo and Stockholm, while mature markets such as Frankfurt, Milan and Madrid also enjoyed significant investment activity.

Increasing prosperity in much of Central and Eastern Europe has brought about new opportunities for investors in their property markets. In the Baltic's both domestic and foreign investors are active, and greater interest is to follow as these markets become more integrated with Western Europe.