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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