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EMEA Office Map - Occupier Conditions | Q2 2021

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Our latest office map depicts market conditions continue to shift in tenants’ favour. As of end Q2, 52% of markets were registered as tenant favourable, up from 44% in Q1. This trend is set to continue for the next 12 months, reaching 56% of markets by Q2-2022. Concurrently, landlord favourable markets are expected to hold just 6% of the vote in a year’s time, highlighting that neutral conditions will continue to hold sway in a large number of markets. This reflects the limited impact on prime headline rents, propped up by rising incentives against a backdrop of low availability, particularly for the best-in-class stock. Low availability has resulted in prime rental growth in some 10% of markets in the last quarter, including St Petersburg (+3%), Helsinki (+3%) and Paris – CBD (+2%). That said, 16% of markets expect further downward pressure on prime rents in the next 12 months. More details can be found using the downloadable map below.

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EMEA Office Map - Occupier Conditions | Q2 2021

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Damian Harrington

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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.

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