Every year, BNP Paribas Real Estate publishes the European Office Market Report during the MIPIM (leading worldwide property event), presenting the key office and investment market trends in Europe with a focus on 39* cities.
In the report, the Research teams at BNP Paribas Real Estate analyse the economic and real estate indicators across each market, and present an overview of the main events and market changes in 2014.
Commenting, Christophe Pineau, Global Head of Research at BNP Paribas Real Estate, said: “The improvement of economic conditions and the better labour market performance in 2014 positively impacted the office markets in Europe. Office take-up totalled closed to 11.7 million m² in 2014, rebounding by 10% over twelve months. The commercial real estate investment volume in the monitored markets amounted to €108 billion (€74 billion for offices) making 2014 the best year since 2007. This represented a significant increase of 16% (20% for offices) compared to an already good year in 2013. 2014 witnessed the recovery of the markets hardest hit by the crisis. With +122% and +278% growth recorded between 2013 and 2014, Dublin and Madrid are the best examples of resurgence. Central London little changed from 2013 and achieved the best volume in Europe with almost €30 billion invested, followed by Paris with €16.8 billion. The European Office Market Report gives both users and investors an overview of the current situation, providing a greater understanding of the diversity in key European office markets in order to help them in their real estate decisions.”
The full report is available on the BNP Paribas Real Estate stand at MIPIM from March 10 to 13 (Palais des festivals de Cannes –Stand R7/E73 / Hall Riviera 7) and is also available to download below the text.
* Amsterdam, Athens, Barcelona, Belgrade, Berlin, Birmingham, Bratislava, Brussels, Bucharest, Budapest, Dublin, Frankfurt, Geneva, Hamburg, Helsinki, Istanbul, Lille, Lisbon, Central London, Luxembourg, Lyon, Madrid, Manchester, Marseille, Milan, Moscow, Munich, Oslo, Central Paris, Prague, Riga, Rome, Saint Petersburg, Stockholm, Tallinn, Vienna, Vilnius, Warsaw and Zurich.
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