In German, but also in many European cities, there are currently more offices under construction than are in demand.
(Photo: imago images / blickwinkel)
Dusseldorf The good news first: Europe’s office rental markets have stabilized after the significant dampening last year – and this is likely to continue for the next three years. This is shown by the office market index, which the international real estate service provider JLL calculates every year exclusively for the Handelsblatt.
The index compares two key figures that are important for the office market: On the one hand, the experts examine the annual volume of office space that is newly rented for 20 major European cities, as well as those office properties that are still under construction or in planning; on the other hand, they consider how the number of employees in the service industry will develop against the background of the respective economic conditions.
But there is also less good news: The downturn in the corona year 2020 did not continue. But the sustained boom in demand on the market for office space is over for the time being.
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