Remote working and the digitalisation of the company, along with employees’ working methods, have had an effect on the market value of offices, as well as the productivity of companies.
Across Europe, countries are adapting to a new working environment that encompasses greater flexibility, more tailor-made services and increased connections between the office, the home and third places.

The office and remote work are allies, not enemies.

 

Sylvain Hasse
Sylvain Hasse
Head of Corporate Services at BNP Paribas Real Estate

Key Figures

Source: BNP Paribas Real Estate International Research Department

  • 10.08 million m²

    Office take-up in Europe 2021 (+27% vs 2020)
  • 7.3%

    Vacancy rate in Q4 2021 (+50bps vs Q4 2020)

France

France like many countries has had to adapt to a new relationship with remote working.

Find out more about the office market in France

The UK

London like most cities across Europe is having to adapt to a new office market that must combine remote working with being in the office.

Read about the UK’s commercial real estate market

Germany

The office market is back on track

See more German office research reports here

Italy

In the third quarter of 2021, the office sector returned to being the best performing sector: 37% of investments in commercial properties in Italy were related to this category, for a total of €870 million.

Understand Italy’s office market here

Ireland

With the Irish government’s lifting of work-from-home guidance, there is more certainty surrounding the future of the office, which in turn affects investor sentiment. 

Spain

Demand for innovative office buildings in Madrid continues to expand

Read more about real estate in Spain

The Netherlands

BNP Paribas Nederland, Arcadis, and G&S Vastgoed have announced their plan to move into joint new headquarters at the Zuidas in Amsterdam mid-2024. The shared ambition is to achieve a new standard for healthy, safe, and future-proof office buildings.

CEE

In Warsaw, the office marketed used the pandemic to experiment with new offers of flexible office space. This has as such had an impact on tenant demand for such spaces.

Find the CEE's research reports here

Pan-european research

See more report
CRE 360
Forecast

Europe CRE 360 - February 26

Total investment for 2025 amounted to €177bn showing a consistent 9% year-on-year increase. All assets contributed to overall growth.

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REVIEW - European retail market - Q3 2025

Investment into retail in Q3 increased by 26% year-over-year. After a long period of declining interest retail has regained momentum with investors looking for good value assets with growth potential. 

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Deutsche Core-Immobilien sind immer noch heiss begehrt

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