EUROPEAN OFFICE MARKET: A CAUTIOUS START TO THE YEAR FOR BOTH OCCUPIERS AND INVESTORS

Following a rebound in confidence at the end of 2025, the European office market stalled in Q1 2026. In a context of economic and geopolitical uncertainty, take-up declined by 16% year-on-year, driven by a slowdown in large transactions, while investment volumes fell by 13%. The start of the year has been marked by caution, with both occupiers and investors adopting a more selective approach.

BNP Paribas Real Estate Property Development establishes a dedicated Living Assets divison, led by Antoine Mabilon

Take-up increased by +3% (vs. 2024) to 19.4 million sqm across the six main markets*, driven by the return of large transactions, even though volumes remain below their ten‑year average. Despite an uncertain economic environment and persistent geopolitical tensions, the European logistics real estate market maintained positive momentum in 2025.