Skip Ribbon Commands
Skip to main content

European Office Property Clock

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ ​

Strong start to the year for European office take-up despite economic and political headwinds

The European recovery has presented a rare source of upside over recent quarters. Low interest rates, reviving domestic demand and job creation continue to underpin occupier activity, though growth rates are expected to dip slightly this year and next. German growth is set to trend moderately slower after peaking in 2017, though France sees further gradual improvement. Brexit casts a shadow over UK performance, although the slowdown has been relatively mild to date. While we expect 2018 to pose a number of challenges, we forecast demand for offices to remain strong and rental growth to continue to outpace the long-term average.

Note:

This diagram illustrates where JLL estimate each prime office market is within its individual rental cycle at the end of March 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)
​​​​

​We’re here to help

Please contact us directly to discuss any of the issues raised in this report or for more information about our research capability.​​​​​​​​​​