Spotlight: European Office Development
Rising construction costs squeeze developer margins, but rental growth outlook remains positive
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Rising construction costs squeeze developer margins, but rental growth outlook remains positive
Read nowSavills presents the Portugal Real Estate Market Overview | Q1 2024, providing you a detailed analysis of the performance of the national real estate market during the first quarter of the year.
Read now"European office occupancy rates continue to rise"
"2022 European office take-up reached 2% above the pre-pandemic average"
"Europe and Middle East office capital values adjust by 18% since Q1 2022"
"The European gaming sector is primed for revenue growth of 8% per annum over the next five years, driven by rising user growth, digital adoption, corporate investment and a competitive developer landscape"
"Rising costs continue to dominate the narrative for global office occupiers, though declining incentives are helping avoid large-scale rent increases"
"A significant proportion of European office stock is at risk of obsolescence based on the EU’s proposed Energy Performance of Buildings Directive"
"European occupier demand intensifies for the best space as prime rents rise by an average 5.5% YoY"
"European prime office yields move out by an average of 40 bps since Q1 2022 due to rising risk-free rates"
"Savills EME Investor Sentiment Survey collected responses from 5–26 September 2022. Replies came from investors targeting real estate in Europe and the Middle East, representing total EME assets under management exceeding €500bn"
"European occupiers are opting for flex space in order to attract staff back to the office"