After the pandemic its evident that the average size of office lease transactions is decreasing. Within the Big5 office markets the average size of individual lease transactions decreased to a level just below 500 sqm, coming from almost 1,200 sqm 5 years ago;

Why? The slowdown of the economy pushes back on expansion plans and companies continue to look for quality over quantity;

So what! In 2024 smaller companies are responsible for approx. 40% of take-up, compared to 23% based on the 10-year average. Based on the number of deals smaller companies have become very dominant: almost 90% of all leases in 2024 are smaller than 500 sqm. So landlords need to increase the offering of smaller floorplates!