During Q1, prime headline rents have held firm, with 83% of markets recording stable prime rent conditions by Q1-end. Even markets reporting rents for secondary space have registered growing stability, with 79% now reporting stable secondary rental levels. However, this is counterbalanced by high levels of incentives, although incentives levels have also started to plateau. We expect to see net rental values of second-hand stock come under downward pressure.
Head of Research
London - West End
Damian Harrington is a Director and Head of Research for both Global Capital Markets and EMEA at Colliers. He has over 20 years of experience in the real estate industry living and working from various locations across EMEA including London, Dubai, Prague, Helsinki and Amsterdam. Damian is responsible for producing research for internal and external clients. His expertise helps to provide clients with global capital market trends and analysis, and connects them with strategic and actionable insights, such as the changing nature of global capital and the impact on global capital flows. Damian has produced numerous research papers and generated analysis of markets across all asset types - from residential to offices, retail to logistics and hotels to niche sectors such as life sciences, air cargo and data centres. Damian is a member of the EMEA location strategy team and a key member of Colliers ESG focus group. He speaks regularly at internal global conferences, external industry events hosted by GRI, ULI and other key industry bodies, plus key annual events such as MIPIM and EXPO REAL.
Damian holds a Masters degree in European Property Development and Planning from University College London, a BPI Bachelor of Planning from the University of Amsterdam and a BA (Hons) in Town and Country Planning from Manchester University. He is also a qualified surveyor, holding an MRICS with the Royal Institute of Chartered Surveyors.
I've been in the real estate industry since 2005 and joined Colliers as a data scientist in their EMEA research team in 2018. In my career I have worked across the various property sectors and I have viewed at the markets from both the occupational and investment perspective. Having obtained a widespread understanding of the European property markets, I am currently focusing on making sure to transform raw RE market data into meaningful and forward thinking analyses and reports.
"Data powers everything that we do."
EMEA Research Analyst
Lewis began his career in commercial real estate in April 2018 after graduating in 2017 from the University of Leeds with a BA in Human Geography and an MSc in GIS (Geographical Information Systems). At Colliers, he is responsible for creating EMEA-level office and industrial/logistics snapshots while monitoring core market data, KPIs and local market commentaries. Alongside his primary duties, he collaborates with local research and internal business teams, answering any ad-hoc requests to help drive the EMEA business.