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European Office Property Clock

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Lack of available space restricts office take-up, but the European occupier market remains strong

The European economy has been impacted by the US-led trade upheavals. In 2018, there has been a deceleration in activity and a downgrade in expectations, albeit still modest. Looking ahead, both Germany and France are expected to see a step down in growth, although rates remain healthy by the standards of the last decade. Brexit continues to colour the UK outlook, but growth is set to continue. Hopes for a deal averting the worst-case options have risen of late, but it is a fine balance and it could be several years before the new relationship with the EU is finalised. Economic growth rates are projected to remain below par until a tentative revival in 2020.

Note:

This diagram illustrates where JLL estimate each prime office market is within its individual rental cycle at the end of December 2018.
Markets can move around the clock at different speeds and directions.
The diagram is a convenient method of comparing the relative position of markets in their rental cycle.
Their position is not necessarily representative of investment or development market prospects.
Their position refers to Prime Face Rental Values.
Definitions

Prime Rent (read)
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