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"There is a renewed sense of optimism in commercial real estate markets, underpinned by more than the simple exuberance that often accompanies a new year"
"In the post-pandemic era, best-in-class office space is vital, attracting talent, fostering community, and enhancing well-being. Limited prime stock and a lack of development may impact take-up levels going forward, creating investment opportunities in refurbishing secondary assets for evolving business needs"
"Italy is a country with a rich cultural heritage and a desirable location for those seeking a prime residential property in the Mediterranean. The country offers a high quality of life and continues to be a top prime residential destination globally, supporting stability within its prime residential markets."
"From historic homes to world class cultural institutions and landmarks, to national and international organisations, there is a panoply of drivers for buyers to come to Rome. Demographics are in Rome’s favour with a growing youthful population: 33% are under the age of 34, forecast to increase a further 7.9% by 2033, drawn by the two universities in the global top 500 and the economic growth of the city."
"The wealthiest city in Italy and one of the fashion capitals of Europe has the highest prime residential prices per square metre of the four main cities in Italy. Transaction volumes fell by 15.2% in 2023, but pricing was sustained by low levels of supply across the market. A resilient financial and business services sector in Milan has supported increased migration to the city in recent years."
"A top destination for culture and history, Florence attracts millions of tourists each year. UNESCO declared the historic centre of the city a World Heritage Site in 1982. Noted for its culture, Renaissance art and architecture and monuments, the city is also home to a number of international schools and universities."