EMEA Office Property Clock

• The European Office Prime Rental Index increased during Q4 2023, growing by +1.0% q-o-q and +4.4% y-o-y.
• Q4 take-up totaled 2.5 million sqm, up 20% q-o-q and down 6% y-o-y.
• European office vacancy increased q-o-q from 7.7% to 8.0% in Q4 2023, the highest rate since Q1 2016.
• Completions totaled 1 million sqm in Q4 2023, with Milan, London, and Paris accounting for the lion’s share of European office completions.

JLL's Office Rental Clock demonstrates where each market sits within its rental cycle.

• This diagram illustrates where JLL estimate each prime office market is within its individual rental cycle at the end of February 2024.
• Markets can move around the clock at different speeds and directions.
• The diagram is a convenient method of comparing the relative position of markets in their rental cycle.
• Their position is not necessarily representative of investment or development market prospects.
• Their position refers to Prime Face Rental Values.

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of sending you the research you have requested.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.