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EMEA Office Pricing Map | Q2 2022

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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.  

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EMEA Office Pricing Map | Q2 2022

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United Kingdom

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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