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Report

Jones Lang LaSalle European Office Property Clock - Q2 2010


More Positive Signals for European Office Markets
 
The economic recovery is proceeding at different speeds across the region. Austerity measures and concerns surrounding sovereign debt in European economies triggered a new wave of economic uncertainty and volatility in financial markets; however there have been more positive signals in the office markets.
 
Prime rental levels stabilised in the majority of locations in Q2 and the Office Index, based on the weighted performance of 24 markets, increased by 2.6% q-o-q, building upon the growth seen during Q1 and showing the first positive growth (+2.1%) on an annual level since Q3 2008.
 
Continuing economic recovery has also fed through to European real estate investment, with transaction volumes increasing 19% over the second quarter. After a phase of compression, prime office yields remained broadly stable across Europe in Q2 2010 and prime office capital values increased by 4.3% for Europe on the quarter.

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