IPF Half-Yearly Survey of Prime European Office Rents (May 2017)
12
May
2017
The first consensus forecasts of prime European office rental growth for the next three years, covering 30 markets in 28 countries, is now available to download from the IPF website.
Using data contributed by 19 property advisors and fund/investment managers, based in the UK and Europe (the majority of whose forecasts were generated within the last four to six weeks), some of the principal findings of the survey include:
- Previously reported superior growth expectations for Madrid and Barcelona have been maintained; joined by Berlin, these three locations are the top ranked centres for growth over all time periods surveyed;
- Both this year and next, the Brexit-effect continues to impact on sentiment for the central London markets, recording negative forecasts of between -4.5% and -2.6%. Even over five years, average London City rental growth predictions remain slightly negative;
- Over the next two years, rates are expected to decline year-on-year in two-thirds of the 30 markets surveyed.
The IPF Research Programme 2015-2018 is funded by a cross-section of businesses, representing key market participants. The IPF gratefully acknowledges the support of these contributing organisations:
Aberdeen Asset Management, Addleshaw Goddard, Aviva Investors, AXA IM – Real Assets, Barings, CBRE Global Investors, CoStar Group, Deutsche Asset Management, Europa Capital, GIC, Grosvenor, JLL, Kames Capital, LaSalle Investment Management, Legal & General Investment Management, M&G Real Estate, MSCI, Picton, Standard Life Investments, Strutt & Parker, TH Real Estate and Wells Fargo.
The report can be downloaded from the IPF Resource Library.