The take-up of office floorspace reached 94,000 m² in the first quarter of 2018, an increase of 19% in comparison with the previous year. The evolution of this has been considerable, surpassing expectations for the close and reaching take-up levels 17% greater than the quarterly average for the last five years.
Of the 125 transactions signed over the quarter, 13% exceeded 1,000 m². The majority of contracts were for less than 500m² (68%) and 19% corresponded to deals between 500 and 1,000 m². The average floorspace transacted hovered around the 750 m² mark, whereas the average for deals exceeding 2,000 m² stood at around 4,000m².
Prime rent stands at €24/m²/month, some 9% above the same figure one year ago. The investment market lacked depth during the first quarter, fewer deals than usual being struck. The prudence of some buyers has come together with the temporary absence of certain vendors.
Download our last Marketbeat Offices report.