Take-up
Office take-up across the 18 main European markets totaled 3.64 million sqm in H1 2026, down 9% year-on-year. Activity was also 9% below the five-year average, reflecting a slowdown in large-scale transactions across many markets.
Rents
Prime office rents across Europe continue to rise, supported by a shortage of Grade A space and resilient demand for high-quality buildings in prime locations. However, the latest data suggest that rental growth may be slowing in some markets.
Vacancy
Vacancy continued to increase across Europe, primarily reflecting subdued occupier demand rather than new supply, although a number of markets, including Barcelona, Madrid, Warsaw, Dublin and Central London, recorded declining vacancy rates.