Spotlight: European Office Outlook
Southern Europe office demand outperforms as European vacancy rates begin to stabilise
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Southern Europe office demand outperforms as European vacancy rates begin to stabilise
Read now"Greater stability in the mortgage markets has encouraged more domestic buyers back to the outer prime London markets whilst prime central London remains steady having held up more strongly since 2022"
"Scotland’s prime market has seen a record number of agreed sales so far this year, with a recovery in prices in some areas as mortgage rates settle. As more properties become available, realistic pricing will remain essential for underlying demand to continue to translate into transactional activity"
"As the mortgage markets improve confidence has returned to the prime regional markets outside of London. This has seen values bottom out over the first three months of the year as market conditions stabilise"
"Prime rents picked up over the first quarter of 2024 in line with typical seasonal trends, but affordability pressures and increased stock means growth has settled at a lower level compared to the last few years"
"Despite easing inflationary pressure positively impacting the direction of consumer confidence, spend growth remains varied by sector whilst anticipation of a recovery is leading to a hiatus in investment activity"
"Some improvement in land market sentiment but highly varied"
"Concessions and inducements hold sway"
"In this Spotlight, we report on the performance of the UK forestry investment market during the 2023 forest year (1/10/22–30/9/23). We review the targets and incentivisation for tree planting and focus on the impacts, mitigation and risk of climate change on the UK’s forests and woodlands"
"While it is unlikely that UK tree planting targets will be met, there is a renewed appetite for woodland creation"
"The effects of climate change mean landowners need to start adapting to its inevitable consequences"