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Commercial Real Estate: Europe: Difference between revisions
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== Office Outlook == | == Office Outlook == | ||
=== Demand<ref name=": | === Demand<ref name=":1" /> === | ||
* European office take-up reached 9.9m sq m during 2022, 2% above the pre-pandemic average. | * European office take-up reached 9.9m sq m during 2022, 2% above the pre-pandemic average. | ||
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=== Vacancy Rates === | === Vacancy Rates === | ||
[[File:CRE 1.PNG|thumb|377x377px|'''''Lease incentives as a percentage of total lease value''''']] | [[File:CRE 1.PNG|thumb|377x377px|'''''Lease incentives as a percentage of total lease value''''']] | ||
Vacancy rates have been increasing since last year:<ref>https://www.savills.com/research_articles/255800/340337-0#:~:text=Vacancy%20rate%20nudges%20up%20to%208%25,-Rental%20growth%20still&text=Vacancy%20rates%20increased%20by%20an,220%20bps%20to%207.8%25</ref> | Vacancy rates have been increasing since last year:<ref name=":1">https://www.savills.com/research_articles/255800/340337-0#:~:text=Vacancy%20rate%20nudges%20up%20to%208%25,-Rental%20growth%20still&text=Vacancy%20rates%20increased%20by%20an,220%20bps%20to%207.8%25</ref> | ||
* Vacancy rates increased by an average of 50 bps from 7.5% to 8% during 2022, most apparent in Dublin (+290 bps to 12.5%), La Défense, (+250 bps to 16.7%), Budapest (+210 bps to 11.3%), and Amsterdam (+220 bps to 7.8%). | * Vacancy rates increased by an average of 50 bps from 7.5% to 8% during 2022, most apparent in Dublin (+290 bps to 12.5%), La Défense, (+250 bps to 16.7%), Budapest (+210 bps to 11.3%), and Amsterdam (+220 bps to 7.8%). | ||