Q2 office leasing activity saw the highest take up in Western Europe since 2006
The Eurozone economy continues to outperform initial forecasts for the year. Meanwhile, election results in The Netherlands and France delivered decisive defeats for populist, Eurosceptic parties and reinforced EU unity. These economic tailwinds are in line with the overall office market performance, as solid occupier activity continues on the back of strengthening employment.
Prime Rent represents the top open-market rent that could be expected for a notional unit of the highest quality and specification in the best location in a market, as at the survey date.
The Prime Rent reflects an occupational lease that is standard for the local market. It is a face rent that does not reflect the financial impact of tenant incentives, and excludes service charges and local taxes. Stockholm is the only city where it is market practice to quote the rent as Prime Effective Rent, therefore the rent is including incentives (i.e. rent free periods as well as relocation costs, tenant fittings, etc.). The Prime Rent represents Jones Lang LaSalle’s market view and is based on an analysis/review of actual transactions for prime office space, excluding any unrepresentative deals. Where an insufficient number of deals have been made for prime office space, an assessment of rental value is provided by reference to transactions generally in that market adjusted accordingly to equate to prime.
Please contact us directly to discuss any of the issues raised in this report or for more information about our research capability.
Head of Offices Research - EMEA Research
+31 (0) 650 671 152
Senior Analyst - EMEA Research
+44 (0) 207 852 4402