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At a Glance - Main office markets in Europe - H1 2022

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Good momentum driven by strong demand for high quality buildings

After encouraging signs at the end 2021, letting activity experienced a strong H1. Volumes are back to their long-term averages in most European markets. The appeal of the prime segment remains intact: low vacancy and growing prime rents occur in the most sought-after districts.

Take-up

Letting volume in the 15 main European office markets achieved 8.83 million sqm over the past 12 months, a 47% increase in volume. H1 2022 was particularly buoyant bringing take-up back to its 10-year average in a significant number of markets.

Rents

Having sustained value over the crisis period, prime office rents in the key cities are now growing again. 

Vacancy

The overall vacancy rate stood at 7.2% at the end of H1, remaining steady compared the same period last year. 

At a Glance - Main office markets in Europe - H1 2022
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