Our latest Q2 2022 office map depicts headline rental values holding firm over the quarter as 64% of markets recorded stable conditions, albeit many remain propped up by incentive packages. Contrary to negative economic sentiment surrounding markets, 33% of prime CBD locations registered further rental uplifts year-on-year (y/y) against a backdrop of low availability, as the ‘flight-to-quality’ trend maintains momentum. Berlin (+8.6%), Milan (+6.8%), Paris - CBD (+6.5%) and London – West End (+6.3%) were some notable core markets recording higher prime rents y/y.
Twelve months from now, 54% of markets surveyed expect further uplift in prime CBD rents, namely Berlin, Amsterdam, London – West End, Paris, Stockholm and Warsaw. This is a 24% increase on our year-end outlook. Additionally, no markets are expecting downward pressure on prime CBD rents over the next 12 months.
Download our Office Pricing Map below.
EMEA Office Pricing Map | Q2 2022