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Occupier momentum improves in the European Office market

Prime office rents across Europe continue to recover on aggregate. Jones Lang LaSalle’s European Office Index increased by 1.1% q-o-q and for the first time since Q1 2012 showed a positive y-o-y trend (+0.9%). There remains however a great degree of variation across the region mirrored in Jones Lang LaSalle’s Office clock, that tracks the rental cycle of key European office markets, with markets in all four quadrants. The vast majority can however be found at or between 6 and 12 o’clock, indicating that rental reductions will increasingly be exceptions.

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 Q1 2014
Prime Rent (EUR / sq m per annum)
Prime Rental Growth (%y-o-y)


This diagram illustrates where Jones Lang LaSalle estimate each prime office market is within its individual rental cycle as at end of the respective quarter.
Markets can move around the clock at different speeds and directions
The diagram is a convenient method of comparing the relative position of markets in their rental cycle
Their position is not necessarily representative of investment or development market prospects.
Their position refers to Prime Face Rental Values

Prime Rent (read)
Please contact us directly to discuss any of the issues raised in this report or for more information about our research capability.
oliver kummerfeldt  
Oliver Kummerfeldt
Associate Director, EMEA Offices Research
+44 (0)203 147 1170
lee elliott  
Lee Elliott
Head of EMEA Research / Director - Corporate Research (UK & EMEA)
+44 (0) 20 3147 1206

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European Office Property Clock