Frankfurt Office MarketView

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Frankfurt Office MarketView"

Transcription

1 Frankfurt Office MarketView Q2 213 GDP Q1 GER +.1% Q-o-Q GDP Q4 GER -.6% Q-o-Q IFO BUSINESS CLIMATE INDEX 1.9 June 213 Global Research and Consulting GFK CONSUMER CLIMATE INDEX 6. June 213 UR FFM 7.3% June 213 OVERVIEW Quick Stats Q2 213 Hot Topics Take-up increased markedly in the second quarter of 213 (up 87% on Q1 213) 13% lower take-up than the first half of 212 Vacancy rate continuing to decline yearon-year Stable demand for modern space in central locations Q-o-Q Take-up 132,9 sq m Vacancy 1.7m sq m Prime rent 38. /sq m Prime yield 4.8% Completions 77, sq m Two major deals (approx. 46% of second quarter take-up) dominated the letting market Economy In addition to the positive fundamental data for the general economy at national level, including for example slight (.1%) economic growth compared with the first quarter and similar slight increases in the ifo business climate index and the GfK consumer climate index, the unemployment rate is on a downward trend. The national average has fallen by.4 percentage points, from 7.1% in April 213 to 6.6% at the end of June. The unemployment rate in Frankfurt also fell by.4 percentage points, to 7.3%, in the same period. According to a current report by the specialist magazine Karriere, Frankfurt has the best market for highly-qualified personnel in Germany. Particularly in times of an impending shortage of specialist staff, this gives the city as a centre of international services positive economic prospects and a strong potential for innovation. Office market Following a restrained start to the 213 letting year, take-up in the Frankfurt office market was sharply higher in the second quarter. Take-up in the second quarter was 132,9 sq m, 34% higher year-on-year and 11% above the tenyear average. In total approx. 24, sq m of office space was let in the first half of 213. At the end of the first half of 213 there was around 1.7m sq m of office vacancy, approx. 8% lower year-on-year. The corresponding vacancy rate declined by 1.2 percentage points, to 14.%. The achievable prime rent maintained the high level of the previous year, 38. /sq m/month. The weighted average rent in Frankfurt was 16.8 /sq m/month at the end of the half-year. Investment market In the wake of a good first quarter, the commercial property investment market in Frankfurt, the financial centre, considerably increased in impetus in the second quarter. The investment volume in the first half of 213 was 1.63bn, a 121% increase year-on-year. Frankfurt accounted for 13% of the total national transaction volume, underlining the great attractiveness of the city as an investment location. 1.12bn, 68% of the total investment volume, was attributable to individual transactions. Portfolio investments therefore accounted for 32% of the investment volume. Table 1: Office market key data Q2 212 Q2 213 Y-o-Y Stock, million sq m % Take-up, cum. 1, sq m % Vacancy, million sq m % 1 Vacancy rate, % %-Pts. Prime rent, /sq m/month % Prime yield, % %-Pts. Capital value index (Q = 1) % 213, GmbH

2 1, sq m % 1, sq m Q2 213 Frankfurt Office MarketView TAKE-UP In the first half of 213, 24, sq m of space in the Frankfurt office market was taken up, 13% less than in the first half of 212. However, the weak take-up in the first quarter of 213 was largely offset by the very strong second quarter. Two major lettings in the over-1, sq m category, representing 46% of take-up in the second quarter and 31% of the total for the half-year, were the main drivers of this increase in letting performance. These were the letting of around 46, sq m to Commerzbank in the Lateral Towers in the Sossenheim/Rödelheim/Hausen submarket and approx. 14,6 sq m, in a planned office property in Eschborn, to Telekom. As a result, these submarkets were among the most important in the first halfyear, with unusually high proportions of the total take-up: Sossenheim/Rödelheim/Hausen, with around 2%, and Eschborn with 1%. Next came the submarkets forming the CBD (Banking District, Frankfurt City and Westend), with their traditionally high take-up. A total of 63,7 sq m was let there in the first half-year, almost a third of the total takeup. In terms of sectors, the market was clearly led by Banks and financial services, accounting for approx. 32%. The next-largest groups of new tenants were Consultancy firms, with 12%, and the Telecommunication sector, accounting for 11% of lettings. Telecommunication companies have primarily taken space in project developments in Eschborn (New Wave and the Deutsche Telekom marketing and service centre). Almost two-thirds of the space let in the first half-year was in the superior category of fit-out (so-called A space), while around a third of the take-up was of averagequality accommodation. The average floor area of the units let in the first half-year was 764 sq m, 1% lower than in the same period of the previous year. Chart 1: Office space take-up Chart 2: Office space take-up (cumulated, %) by sectors* - Top - Remaining sectors 36% 1 year average: 469,6 sq m Q1 Q2 Q3 Q4 Banks, Financial S. 32% Real Estate 4% IT % Telecomm. 11% Legal Adv., Chart. Acc. 12% 2 VACANCY At the end of the first half of m sq m of office space was vacant, an 8% reduction year-on-year. Based on an office stock of 11.8m sq m, this equates to a vacancy rate of 14.%, 1.2 percentage points lower than in the first half of 212. At the end of the first quarter, the supply of office space, comprising completions in the next twelve months, space currently available for subletting and vacancy, totalled 1.84m sq m. Although speculative completions in the next twelve months, at 78,6 sq m, are nearly four times more than in the previous year, space on offer has fallen by 121, sq m (6%), as the amount of vacancy and space offered for subletting have substantially declined. The volume of vacant office space in both the superior and average-quality categories of fit-out has declined by 2%, whereas there is 8% more vacant outdated office accommodation. Chart 3: Office space vacancy 2, 1 year average: 14.% 2, 1, 1, *in total 2 sectors Q2 Vacancy Vacancy rate. 213, GmbH

3 1, sq m Index Q = 1 /sq m/month Chart 4: Prime rent & Weighted average rent Q2 213 Prime rent Weighted average rent Chart : Prime office rent index RENT For almost five years, the achievable prime rent in Frankfurt has been stable at 38. /sq m/month. This is achievable in high-quality new accommodation in the Banking District. We consider that the prime rent will remain stable during the rest of this year, due to the limited availability of first-class office space and the high level of demand in the market. A significant increase in the upper range of rental values was registered in the Frankfurt City submarket, where the prime rent has risen by 4. (a year-on-year increase of 1%) to 34. /sq m/month. The primary reasons for the increase were lettings of space in project developments, for example OneGoetheplaza, and modern office buildings with highquality fit-out, such as Nextower. In the other submarkets prime rents were stable, apart from in Sachsenhausen, where they increased by 6%, and Frankfurt East, which saw a 3% decline. The top rent realised, assessed as the median of the highest rents agreed on 3% of the new lettings in the total take-up in the last twelve months, has increased by almost 1% year-on-year, to 38. /sq m/month. As a result of the large-scale lettings at comparatively low rents in the peripheral submarkets of Sossenheim/Rödelheim/Hausen and Eschborn, the weighted average rent for Frankfurt fell by 9% compared with the first half of 212, to 16.8 /sq m/month. Weighted average rents rose most strongly in the Railway Station District and in the Frankfurt West submarket (each by 2%). The sharpest decline was recorded in the City West submarket, which was down by 24%. The unchanged achievable prime rent means that the rental value index also remains stable at 219 index points. Q2 213 Frankfurt Office MarketView PIPELINE At present, we anticipate a volume of completions of 78,1 sq m in the current year, including 18,1 sq m of refurbishments. Only around 2% (19,3 sq m) of the space that will come on to the market in 213 is available for letting, as 49% (38,4 sq m) has been pre-let and 26% (2,4 sq m) is being constructed for owner-occupation. In the whole of 213, a total of 192,9 sq m of new accommodation (already completed and forthcoming) is expected to come onto the market, more than twice as much as in 212 (132% increase). Nevertheless, the volume of completions in 213 is around 2% below the ten-year average (26,2 sq m). In 214 we anticipate an increase in the volume of completions, to a total of just under 268, sq m. The new 14, sq m European Central Bank (ECB) building and the TaunusTurm, with around 6, sq m of office space, make up a significant proportion of this. A feature of the completions due next year is the relatively high (39%) proportion of owner-occupiers, primarily due to the ECB. So far, completions in 21 are anticipated to total only 48, sq m, based on the present status 82% of which will be constructed speculatively. However, in view of the stable general economic conditions, the positive trend of the employment market and continuing high demand for modern office space, we assume that further projects will come on to the market for 21 and that the proportion of pre-lets will increase Germany Frankfurt Chart 6: Office space future supply year average: 26,2 sq m Completed Speculative Pre-let Owner-occupied 3 213, GmbH

4 Index Q = 1 % 1, sq m Q2 213 Frankfurt Office MarketView PIPELINE BY SUBMARKETS The new 14, sq m ECB building project means that the submarket with the largest amount of space planned up to the end of 21 is Frankfurt East. The volume of completions in the Banking District will be almost as great: in the same period around 1, sq m of office space will be completed there. This submarket is dominated by a high proportion (82%) of speculative project developments (TaunusTurm and T8), which will mainly come on to the market in 214 and 21. The only submarket with a higher proportion of speculative development is City West, where 1% of the 23,1 sq m of projected space is still available. The submarket with the third-largest anticipated volume of completions is Frankfurt City. 6% of the planned 69, sq m of space there is already pre-let. Chart 7: Office space future supply (Q ) by submarkets* -Top East Bank. D. City Eschborn City W. Speculative Pre-let Owner-occupier INVESTMENT Chart 8: Prime yield, capital value and benchmark yield *in total 2 submarkets The very good opening to the investment year in the first quarter of 213 is continuing and has further increased in impetus. The transaction volume in Frankfurt was around bn in the first half-year. This is an increase of around 4 121% on the already very good result in the previous year 1 and confirms the major importance and stability of Frankfurt as an investment location, even in times of financial and 3 Euro crises. Office property accounted for more than two 1 thirds (7%) of the capital invested in the first half-year. As a 2 result of the heavy demand for the limited supply of core 1 properties, the prime yield in this segment has hardened by 2 basis points year-on-year, to the present 4.8%. The over- m- lot size categories accounted for the lion s share (84%) of the investment volume. The investment volume in these categories was more than treble that in the first half of Capital value index Prime yield (%) 1y government bond (%) 212. However, the strongest increase in investment volume was in the 2m to (less than) m category. This increased more than sixfold (+32%) year-on-year. The average investment volume per transaction across all the categories was 6.3m, almost double the amount in the previous year. On the purchasers side the market was strongly dominated by Insurance companies, which accounted for nearly half (48%) the transaction volume, substantiating Frankfurt s status as a stable investment location. The second-largest purchaser group was Open-ended/Special Funds, which were responsible for 36% of the capital invested. In contrast to the same period in 212, when foreign investors made up the vast majority of the transaction volume, in the first half-year German investors showed particular interest in the Frankfurt real estate market, placing 6% of the total investment volume FORECAST In view of the positive trend of the employment market and the stable general economic conditions, in the second half of 213 we anticipate that the letting market will experience a further decline in the vacancy rate, with continuing high demand for modern office space and therefore stability of prime rents and take-up, which at the end of the year may be similar to 212. In the medium term we expect an increase in the prime rent for first-class modern office space in central locations. On the investment market, further transactions in the over- 1m category expected in 213 mean that a high transaction volume, which may even exceed the good result in 212, is anticipated. The prime yield on core office properties will stabilise at a low level. 213, GmbH

5 Table 2: Submarket key data Cumulated Take-up sq m Future supply Q sq m Vacancy rate % Rental band /sq m/month Weighted average rent /sq m/month Railway Station District 12, 11, Banking District 2, 1, Office Location/Niederrad 7, City West 13,2 23, Eschborn 29,6 31, Frankfurt City 22, 68, Frankfurt Airport 1, 17, Frankfurt North k. A. Frankfurt East 8, 14, Frankfurt South k. A. Frankfurt West 1, Merton District 3, Trade Fair/Europe District 1 19, k. A. Niedereschbach, Offenbach Kaiserlei 2, Rebstock k. A. Sachsenhausen 3,4 6, Sossenheim/Rödelheim/Hausen,4 3, Westend 16,7 1, Westhafen k. A. TOTAL 24, 39, Q2 213 Frankfurt Office MarketView 213, GmbH

6 Q2 213 Frankfurt Office MarketView For more information about this MarketView, please contact: Research Germany Dr. Jan Linsin Senior Director Head of Research Germany 6323 Frankfurt t: e: Johannes Dreher Analyst 6323 Frankfurt t: e: Agency Frankfurt Carsten Ape Managing Director Head of Agency Germany 6323 Frankfurt t: e: Alexander Riegel Director Co-Head of Agency Frankfurt 6323 Frankfurt t: e: + FOLLOW US GOOGLE+ FACEBOOK 6 Global Research and Consulting This report was prepared by the Germany Research Team which forms part of Global Research and Consulting a network of preeminent researchers and consultants who collaborate to provide real estate market research, econometric forecasting and consulting solutions to real estate investors and occupiers around the globe. Disclaimer Information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the market. This information is designed exclusively for use by GmbH clients, and cannot be reproduced without prior written permission of GmbH , GmbH

Frankfurt Office MarketView

Frankfurt Office MarketView Frankfurt Office MarketView Q3 214 Quick Stats Q3 214 GDP Q2 214.2% Q-o-Q Q-o-Q Take-up 97, sq m Vacancy 1.34m sq m Prime rent 38. /sq m Prime yield 4.7% GDP Q1 214 +.7% Q-o-Q IFO BUSINESS CLIMATE INDEX

More information

Berlin Office MarketView

Berlin Office MarketView Berlin Office MarketView Q2 213 GDP Q1 GER +.1% Q-o-Q GDP Q4 GER -.6% Q-o-Q IFO BUSINESS CLIMATE INDEX 1.9 June 213 CBRE Global Research and Consulting GFK CONSUMER CLIMATE INDEX 6. June 213 UR BER 11.6%

More information

Dusseldorf Office MarketView

Dusseldorf Office MarketView Dusseldorf Office MarketView 214 Q3 GDP 214 Q2.2% Q-o-Q GDP 214 Q1 +.7% Q-o-Q IFO BUSINESS CLIMATE INDEX 14.7 Sept. 214 CBRE Global Research and Consulting BA-X 17 Sept. 214 UR DUS 8.6% Sept. 214 1 Quick

More information

Hamburg Warehouse and Logistics MarketView

Hamburg Warehouse and Logistics MarketView Warehouse and Logistics MarketView H2 212 GDP Q4 GER -.6% Q-o-Q GDP Q3 GER +.2% Q-o-Q IFO BUSINESS CLIMATE INDEX 15.2 Jan. 212 Global Research and Consulting GFK CONSUMER CLIMATE INDEX 5.7 Jan. 212 UR

More information

UK Prime Rents and Yields MarketView

UK Prime Rents and Yields MarketView Q 2 Q1 2 Q1 2 Q 2 Q2 2 Q1 2 Q 2 Q 2 Q2 2 Q 2 Q2 211 Q 212 UK Prime Rents and Yields MarketView CBRE Global Research and Consulting RENTS - RISERS 2 YIELDS - FALLERS RENTS - FALLERS YIELDS - RISERS ACCELERATING

More information

Warsaw Office MarketView

Warsaw Office MarketView Warsaw Office MarketView H1 213 CBRE Global Research and Consulting OFFICE STOCK 4. M SQ M OFFICE VACANCY 1.5% OFFICE TAKE-UP 334, SQ M COMPLETION 152, SQ M UNDER CONSTRUCTION 7.8% Y-O-Y GENERAL OVERVIEW

More information

Warsaw Office MarketView

Warsaw Office MarketView Warsaw Office MarketView Q4 212 CBRE Global Research and Consulting OFFICE STOCK 3.9 M SQ M OFFICE VACANCY 8.8% OFFICE TAKE-UP 68,5 SQ M COMPLETION 268, SQ M UNDER CONSTRUCTION.2% Y-O-Y GENERAL OVERVIEW

More information

The Office Market Frankfurt/Main

The Office Market Frankfurt/Main CB RICHARD ELLIS MARKET VIEW Frankfurt/Main OFFICE MARKET Q3 28 Overview The Office Market Frankfurt/Main Take-up almost at last year s level Marginal increase in vacancy Higher demand for middle price

More information

Yield Compression is evident in the prime end of the market

Yield Compression is evident in the prime end of the market MARKETVIEW Helsinki Metropolitan Area (HMA) Office, Q4 2014 Yield Compression is evident in the prime end of the market 0.9% (Nov Y-o-Y) 1.0% (2014 Y-o-Y) 8.8% (Dec) QUICK STATS ECONOMIC OVERVIEW Q4 2014

More information

Luxembourg Office MarketView

Luxembourg Office MarketView Luxembourg Office MarketView Q4 2012 CBRE Research & Consulting 2012 GDP 0,5% TAKE-UP 169.000 m² PRIME RENT 40 EUR/m²/mth PIPELINE 64.000 m² VACANCY RATE 6,08% PRIME YIELD 5,5% 2012 CATCHES UP DURING THE

More information

Midtown South Manhattan Office MarketView

Midtown South Manhattan Office MarketView Midtown South Manhattan Office MarketView CBRE Global Research and Consulting LEASING ACTIVITY 1.1 MSF NYC UNEMPLOYMENT RATE (DEC. 1) 7.5% NYC OFFICE EMPLOYMENT (DEC. 1) 1,6, U.S. GDP CHANGE (Q 1) 4.1%

More information

Caracas Office MarketView

Caracas Office MarketView Caracas Office MarketView CBRE Global Research and Consulting SALE PRICE CLASS A 45.03% VACANCY CLASS A 15.81% LEASE RENT CLASS A 36.21% NEW SUPPLY 0 sq. m. *Arrows indicate changes from previous quarter.

More information

Warehouse and Logistics Market MarketView Germany

Warehouse and Logistics Market MarketView Germany Warehouse and Logistics Market MarketView Germany Spring 2014 CBRE Global Research and Consulting GDP Q4 GER Q/Q + 0.4 % GDP Q3 GER Q/Q + 0.3 % IFO INDEX M/M 110.7 Mar 2014 10Y BUND Q/Q 1.52 % Mar 2014

More information

Helsinki Metropolitan Area (HMA) Office MarketView

Helsinki Metropolitan Area (HMA) Office MarketView Helsinki Metropolitan Area (HMA) Office MarketView Q3 2014 CBRE Global Research and Consulting GDP -0.6% (Y-o-Y) CPI 1,3% (Y-o-Y) UNEMPLOYMENT RATE 8,2% (Sep) HELSINKI OFFICE MARKET - SALES VOLUME IS IMPROVING

More information

Development activity is limited and will probably remain so for some time as developers are facing financing constraints for speculative schemes.

Development activity is limited and will probably remain so for some time as developers are facing financing constraints for speculative schemes. Luxembourg Offices www.cbre.lu/research Quick Stats Take-up Vacancy Developments Rents Yields Hot Topics Evolution Q4 10 Q3 11 The office real estate market has performed very well in 2011, achieving a

More information

Record office take-up Investment market remains dynamic

Record office take-up Investment market remains dynamic Berlin Market Report OFFICE LEASING AND INVESTMENT Q1 2016 Record office take-up Investment market remains dynamic Margit Lippold Director Research Office leasing Office take-up (in 1,000 sqm) including

More information

Investment Market Overview. Germany I 2 nd quarter of 2014 Published in July 2014

Investment Market Overview. Germany I 2 nd quarter of 2014 Published in July 2014 Investment Market Overview Germany I 2 nd quarter of 2014 Published in July 2014 JLL Investment Market Overview July 2014 2 Strong momentum on the German investment market The German investment market

More information

Property Times Europe Q3 2010 Short supply improves rental outlook

Property Times Europe Q3 2010 Short supply improves rental outlook 1999 2000 2001 2002 2003 2004 2005 2006 2007 2011 2012 2013 2014 Property Times Europe Short supply improves rental outlook 19 October Contents Overview 1 Market Statistics 2 Office Market Overview 3 Outlook

More information

European office market recovery continues but at varying speeds

European office market recovery continues but at varying speeds The Jones Lang LaSalle Office Property Clock Q2 2013 European office market recovery continues but at varying speeds European Prime Office Rental Index continues upward trend Aggregate European leasing

More information

Leasing and investment market off to a lively start in 2016

Leasing and investment market off to a lively start in 2016 Düsseldorf Market Report Office Leasing and Investment Q1 2016 Leasing and investment market off to a lively start in 2016 Lars Zenke Director Research Düsseldorf Office Leasing The Düsseldorf office leasing

More information

Commercial Property Newsletter

Commercial Property Newsletter Commercial Property Newsletter November 2010 Inside: Irish Commercial Property Commentary UK Commercial Property Commentary - Irish Life UK Property Fund Information European Commercial Property Commentary

More information

Warehouse & Logistics Market MarketView Germany

Warehouse & Logistics Market MarketView Germany Warehouse & Logistics Market MarketView Germany Feb 2013 GDP Q4 GER -0.6% q-o-q GDP Q3 GER +0.2% q-o-q IFO BUSINESS CLIMATE INDEX 107.4 Feb. 2013 CBRE Global Research and Consulting GFK CONSUMER CLIMATE

More information

Current Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis

Current Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis Current Issues Note 27 By Yeukai Muchenje and Nick Ennis copyright Greater London Authority November 2010 Published by Greater London Authority City Hall The Queen s Walk London SE1 2AA www.london.gov.uk

More information

European office sector recovery continuing Divergence in speed and strength remains

European office sector recovery continuing Divergence in speed and strength remains The Jones Lang LaSalle Office Property Clock Q3 2013 European office sector recovery continuing Divergence in speed and strength remains European Office Rental Index decreases q-o-q Aggregate European

More information

Contents. Economy Investment Office...5. Industrial Summary Q Summary Q Prognosis... 4

Contents. Economy Investment Office...5. Industrial Summary Q Summary Q Prognosis... 4 Czech Republic MARKET OVERVIEW Q1 2016 Contents Economy... 3 Summary Q1 2016... 3 Investment... 4 Summary Q1 2016... 4 Prognosis... 4 Office...5 Summary Q1 2016... 5 Prognosis... 6 Industrial... 7 Summary

More information

EMEA Office MarketView

EMEA Office MarketView EMEA Office MarketView 20 CBRE Global Research and Consulting EMEA PRIME YIELD 7.6 BPS EU-27 VACANCY RATE 0.11 PP EMEA PRIME RENT 0.5% EMEA CAPITAL VALUE 1.9% TAKE-UP 9.6% EMEA OFFICE MARKETS SET FOR IMPROVEMENT

More information

Lisbon Office Market Outlook. 4th Quarter 2009

Lisbon Office Market Outlook. 4th Quarter 2009 (data on ) Contacts: Pedro Pimentel pedrop@prea.pt 214406420 Research & Market Analysis Dept. www.prea.pt Outlook Following a major downturn in economic performance office space demand continues to be

More information

European office sector recovery gains momentum

European office sector recovery gains momentum The Jones Lang LaSalle Office Property Clock Q4 2013 European office sector recovery gains momentum European Office Rental Index increases q-o-q Aggregate European leasing volume up 18% on Q3 Completions

More information

European office rental struggle amidst subdued demand

European office rental struggle amidst subdued demand The Jones Lang LaSalle Office Property Clock - Q2 2012 European office rental struggle amidst subdued demand The European rental index records a second successive modest fall (-0.2%) The European vacancy

More information

Market Commentary Canberra Office

Market Commentary Canberra Office Market Commentary Canberra Office November 2015 Executive Summary A further strengthening in the Canberra office market has been recorded over 3Q15 with a total of 9,300 sqm of positive net absorption.

More information

Office and Investment Markets an overview

Office and Investment Markets an overview CITY SURVEY Germany 215/216 and Investment Markets an overview Accelerating success. Achim Degen Executive Management Spokesman achim.degen@colliers.com Good year for landlords and considerable increase

More information

UK commercial property prime rental values continue to increase.

UK commercial property prime rental values continue to increase. MARKETVIEW UK Prime Rent and Yield, UK commercial property prime rental values continue to increase. 164 3 23 6 *Arrows indicate change from previous quarter. Prime rental values increased by 1.3% in,

More information

Market in Minutes Germany office markets Q2 2016

Market in Minutes Germany office markets Q2 2016 Savills World Research Germany offices Market in Minutes Germany office markets 216 The facts at a glance Office space is becoming scarce, driving rents higher In the major German office markets, office

More information

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe EMEA Office July 2015 LARGE OFFICE SPACE Where to find 5,000 sq m in Europe HIGHLIGHTS The availability of large office premises has reduced by 12% year-on-year Choice is limited - only 19% of options

More information

Outlook for Australian Property Markets 2010-2012. Perth

Outlook for Australian Property Markets 2010-2012. Perth Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012

More information

Briefing Office sector November 2014

Briefing Office sector November 2014 Savills World Research Beijing Briefing Office sector November 2014 SUMMARY Image: CBD area, Chaoyang district City-wide vacancy rates hovered at the lowest level in China despite the market receiving

More information

Investment market continued strong in 2015

Investment market continued strong in 2015 2008 2009 2010 2011 2012 2013 2014 2015F 2016F 2017F MARKETVIEW Helsinki Metropolitan Area (HMA) Office, H2 2015 Investment market continued strong in 2015-0.2% (Y-o-Y) -0.2% (Y-o-Y) 9.2% QUICK STATS ECONOMIC

More information

Rebound after a slow start

Rebound after a slow start DTZ Research PROPERTY TIMES Rebound after a slow start Europe Office Q2 2015 28 August 2015 Contents Take-up 2 New office supply 3 Vacancy ratio 4 Prime office rents 5 Outlook 6 Definitions 7 3 million

More information

THE NETHERLANDS OFFICE MARKET

THE NETHERLANDS OFFICE MARKET March 216 Contents 1. Office take-up 2. Office supply STATE OF AFFAIRS THE NETHERLANDS OFFICE MARKET 3. Office rents 4. Office investments Colophon Composed by Drs. R. L. Bak Data source NVM Data & Research

More information

Frankfurt/RheinMain Airport Location Neu-Isenburg!

Frankfurt/RheinMain Airport Location Neu-Isenburg! Frankfurt/RheinMain Airport Location Neu-Isenburg Summary of the Market and Location Analysis Frankfurt am Main, May 2014 Bettinastraße 62 60325 Frankfurt (Main) Tel. +49 69 75 61 46 760 info@.de www..de

More information

EMEA Office MarketView

EMEA Office MarketView EMEA Office MarketView 2014 CBRE Global Research and Consulting EMEA PRIME YIELD 7.9 BPS EU-28 VACANCY RATE 0.02 PP EMEA PRIME RENT 0.3% EMEA CAPITAL VALUE 1.8% TAKE-UP 17% TAKE-UP STILL SUBDUED BUT SOME

More information

Adelaide CBD Office Market

Adelaide CBD Office Market SPRING 2015 MARKET TRENDS Leasing demand strengthened in the year to July 2015, led by take up from the Government and regulatory authorities and Utilities, Mining and resources sectors. Supply additions

More information

Greater Toronto Area Industrial Market Snapshot October 2013

Greater Toronto Area Industrial Market Snapshot October 2013 Greater Toronto Area Industrial Market Snapshot October 2013 CBRE Global Research and Consulting LOCATION, LOCATION, AND TRANSPORTATION WHERE IS INDUSTRIAL DEVELOPMENT HEADED? By: Lynn Duong Senior Research

More information

Market report European Offices September 2014

Market report European Offices September 2014 Savills World Research European Commercial Market report European Offices September 20 graph 1 Prime CBD rental growth Positive or stable in most markets y-o-y prime rental growth 30% 25% 20% 15% % 5%

More information

UK Private and Commercial Landlord Insurance 2016

UK Private and Commercial Landlord Insurance 2016 UK Private and Commercial Landlord Insurance 2016 UK Private and Commercial Landlord Insurance 2016 Sector Publishing Intelligence Limited (SPi) has been marketing business and market research reports

More information

Q Abu Dhabi Real Estate Market Overview

Q Abu Dhabi Real Estate Market Overview Abu Dhabi Real Estate Market Overview Abu Dhabi Market Summary The third quarter of 2014 recorded the continued growth of prices in the residential market, with more limited improvement in the hospitality,

More information

Office market report Luxembourg

Office market report Luxembourg Office market report Luxembourg On Point 4 th quarter 2015 The year of the mega deals Take-up in Q4 surged to 87,000 sqm., up vs. 58,000 sq.m. in Q3. Over the full year, take-up amounted to 231,000 sq.m,

More information

OUT OF TOWN NORTH LIVERPOOL CITY FRINGE OUT OF TOWN WAVERTREE

OUT OF TOWN NORTH LIVERPOOL CITY FRINGE OUT OF TOWN WAVERTREE LIVERPOOL COMMERCIAL OFFICE MARKET REVIEW 2013 WATERLOO NORTH LIVERPOOL BOOTLE CITY FRINGE KNOWSLEY ST HELENS CITY CENTRE RIVER MERSEY WAVERTREE LIVERPOOL CITY REGION MAP SOUTH LIVERPOOL SUMMARY Combining

More information

Commercial Property Market Report Riga

Commercial Property Market Report Riga Commercial Property Market Report Riga 2 nd quarter 2014 Commercial Property Market Report, 2nd quarter 2014. LATIO Market Research Department. Data publishing without a reference to the source is forbidden!

More information

CB RICHARD ELLIS RESEARCH AND CONSULTING. Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS

CB RICHARD ELLIS RESEARCH AND CONSULTING. Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS CB RICHARD ELLIS RESEARCH AND CONSULTING Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS August 2010 TABLE OF CONTENTS Foreword 4 Introduction 5 Corporate Tax Rates 6 Rents

More information

POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015

POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015 POSTBANK GROUP INTERIM MANAGEMENT STATEMENT AS OF MARCH 31, 2015 PRELIMINARY REMARKS MACROECONOMIC DEVELOPMENT BUSINESS PERFORMANCE PRELIMINARY REMARKS This document is an interim management statement

More information

Q Cairo Real Estate Market Overview

Q Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary All sectors of the Cairo real estate market have witnessed positive performance and improved sentiment during. This improvement largely resulted from

More information

Office Leasing and Investment

Office Leasing and Investment Market report Munich Mid-year report 215 Office Leasing and Investment Accelerating success. Office Leasing Munich Statistics Population 1,5,56 Unemployment Rate 4.4 % Employees Paying Social Security

More information

Q3 2015. Cairo Real Estate Market Overview

Q3 2015. Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary All sectors of the Cairo real estate market exhibited positive performance and improved sentiment during, with the office market signaling the most

More information

THE NETHERLANDS CAPITAL MARKETS OUTLOOK 2015

THE NETHERLANDS CAPITAL MARKETS OUTLOOK 2015 THE NETHERLANDS CAPITAL MARKETS OUTLOOK 2015 CONTENTS CAPITAL MARKETS OUTLOOK 2015 CONTENTS CAPITAL MARKETS OUTLOOK 2015 INTRODUCTION CAPITAL MARKETS OUTLOOK 2015 6 THE NETHERLANDS ECONOMY 8 CAPITAL FLOWS

More information

West End of London Office Property Market Outlook

West End of London Office Property Market Outlook September 2011 West End of London Office Property Market Outlook Mark Callender, Head of Property Research, Schroders By contrast with the pedestrian recovery of the overall UK economy, the West End of

More information

RETAIL : OFFICE : INDUSTRIAL. UK Commercial Property Market Overview June 2009

RETAIL : OFFICE : INDUSTRIAL. UK Commercial Property Market Overview June 2009 RETAIL : OFFICE : INDUSTRIAL UK Commercial Property Market Overview June 2009 MARCH 2009 UK Commercial Property Market Overview June 2009 2 KEY HIGHLIGHTS Total returns fell by 7.1% over Q1 2009 according

More information

Minneapolis/St. Paul Office MarketView

Minneapolis/St. Paul Office MarketView Minneapolis/St. Paul Office MarketView Q2 2014 CBRE Global Research and Consulting BIG 2ND QUARTER HAS VACANCY RATE TRENDING DOWNWARD Quick Stats GDP GROWTH MN EXPORTS MN UNEMPLOYMENT CONSUMER SPENDING

More information

Hanoi Quarterly Report

Hanoi Quarterly Report Market Insights from CBRE s Hanoi Quarterly Report Presented by: CBRE RESEARCH & CONSULTANCY Richard Leech Executive Director Thanh Tran Senior Manager CB Richard Ellis (Vietnam) Co., Ltd. October 13 th

More information

Real estate market Germany

Real estate market Germany Real estate market Germany A Research Publication by DG HYP Office and retail real estate still downward residential real estate stable Office real estate Office rents in Germany are likely to decline

More information

DTZ Foresight Europe Fair Value Q1 2012 Germany and UK holding firm

DTZ Foresight Europe Fair Value Q1 2012 Germany and UK holding firm Germany and UK holding firm 29 May 2012 Contents Fair value highlights 2 Economic context 3 Market classifications 4 Office market forecasts 5 Retail market forecasts 6 Industrial market forecasts 7 Authors

More information

London Market Snapshot October 2015 10/15

London Market Snapshot October 2015 10/15 London Market Snapshot October 2015 10/15 Global Macro Overview Global equities experienced their sharpest falls since 2011, with most major markets moving into correction territory (a fall of more than

More information

Office Leasing and Investment

Office Leasing and Investment MarkEt REPORT Berlin 214/215 Office Leasing and Investment Accelerating success, Office leasing Berlin STATISTICS Population 3,422, Unemployment rate 11.1 % Employees paying social security contributions

More information

Housing market report

Housing market report Domain Capital City Market Report Prepared July Dr Andrew Wilson, Senior Economist Australian Property Monitors Buyer momentum rises and the Australian housing market strengthens to record levels National

More information

Spain s Real Estate and Construction Markets. Think Tank of Deutsche Bank Group

Spain s Real Estate and Construction Markets. Think Tank of Deutsche Bank Group Spain s Real Estate and Construction Markets Think Tank of Deutsche Bank Group 1 2 3 4 Overall Macroeconomic Environment Real Estate Markets Construction Activity Concluding Remarks 1 Overall Macroeconomic

More information

Ile-de-France office market

Ile-de-France office market Ile-de-France office market Q1 2010 Rental values / Immediate supply The letting activity in Ile-de-France remains moderate but the signs of recovery are strong in Paris where demand has doubled in the

More information

Unaudited Nine Months Financial Report

Unaudited Nine Months Financial Report RECRUITING SERVICES Amadeus FiRe AG Unaudited Nine Months Financial Report January to September 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Nine

More information

CITY FLOOR REVIEW. A floor-by-floor analysis of the City office market Q1 2015

CITY FLOOR REVIEW. A floor-by-floor analysis of the City office market Q1 2015 CITY FLOOR REVIEW A floor-by-floor analysis of the City office market Q1 215 FIRST QUARTER REVIEW THE QUARTER IN NUMBERS Q ON Q Y ON Y Comment 374 floors available, totalling 2.9m sq ft 24 floors taken-up

More information

Summary. CB Richard Ellis - Oslo. Local Real Estate World Wide. Prime yield hits sub 6.00% The rental market appears positive

Summary. CB Richard Ellis - Oslo. Local Real Estate World Wide. Prime yield hits sub 6.00% The rental market appears positive CB RICHARD ELLIS Market View Oslo Office Market Development Prime Yield Prime Rent Hot Topics 10 Changes from Prime office yield decreased to 5.75% 09 Summary Prime yield hits sub 6.00% Prime office yield

More information

Retail investment drops to 10 billion in Q1 following five quarters of exceptional turnover

Retail investment drops to 10 billion in Q1 following five quarters of exceptional turnover 2008.1 2008.2 2008.3 2008.4 2009.1 2009.2 2009.3 2009.4 2010.1 2010.2 2010.3 2010.4 2011.1 2011.2 2011.3 2011.4 2012.1 2012.2 2012.3 2012.4 2013.1 2013.2 2013.3 2013.4 2014.1 2014.2 2014.3 2014.4 2015.1

More information

Deutsche Wohnen AG.» Investor Presentation. September 2010

Deutsche Wohnen AG.» Investor Presentation. September 2010 Deutsche Wohnen AG» Investor Presentation September 21 1 » Agenda 1 2 3 4 Introduction to Deutsche Wohnen Portfolio Overview and Operations Financial Highlights Guidance and Strategic Objectives 2 » 1

More information

REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING. Second half

REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING. Second half + REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING 2016 2013 Q1 REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING Second half ISSN 2424-4791 (ONLINE) REVIEW OF THE SURVEY OF ENTERPRISES

More information

CZECH INVESTMENT MARKET

CZECH INVESTMENT MARKET RESEARCH CZECH INVESTMENT MARKET MARKET OVERVIEW 1 / Q3 MACROECONOMIC DATA... 3 GDP GROWTH RATE... 3 GDP PROGNOSIS... 3 INFLATION RATE... 3 UNEMPLOYMENT... CZK / USD, EUR... CONSTRUCTION OUTPUT INDEX...

More information

PRAGUE RESIDENTIAL MARKET

PRAGUE RESIDENTIAL MARKET RESEARCH PRAGUE RESIDENTIAL MARKET MARKET OVERVIEW 15/H1 5 7 8 9 1 11 1 13 Jan 1 Feb 1 March 1 April 1 May 1 June 1 July 1 August 1 Sept 1 Oct 1 Nov 1 Dec 1 Jan 15 Feb 15 March 15 April 15 May 15 June

More information

Chapter 1: Economic commentary

Chapter 1: Economic commentary Compendium: Chapter 1: Economic commentary This section of the Pink Book provides an examination of recent trends, main movements and international comparisons for a range of information contained in subsequent

More information

Domain House Price Report June Quarter 2015

Domain House Price Report June Quarter 2015 Domain House Price Report June Quarter 2015 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Sydney market reports remarkable growth over June quarter to reach median house price of

More information

National Offices & Business Parks Survey

National Offices & Business Parks Survey National Offices & Business Parks Survey Winter 28/29 THAMES VALLEY M25 GREATER LONDON Quarterly Take-Up Take-Up Trends Take-up for 28 was relatively evenly distributed throughout the year. Total take-up

More information

Canada Investment MarketView Q2 2013

Canada Investment MarketView Q2 2013 Canada Investment MarketView Q2 213 CBRE Global Research and Consulting CORE CPI 122.9 1 YEAR GOVERNMENT BOND 2.44% NATIONAL CAP RATE 5.96% INVESTMENT VOLUME $14.7 Billion YTD Arrow indicates change from

More information

House price report. March quarter Dr Andrew Wilson Senior Economist - Domain Group

House price report. March quarter Dr Andrew Wilson Senior Economist - Domain Group March quarter 2015 Dr Andrew Wilson Senior Economist - Domain Group Key findings Mixed results as local factors drive prices growth despite interest rate cut March quarter results market continues to record

More information

Eastern Europe Office Market Review

Eastern Europe Office Market Review RESEARCH & FORECAST SNAPSHOT 2013 EASTERN EUROPE OFFICE SUMMARY Eastern Europe Office Market Review CEE Markets: Warsaw, Prague, Bratislava, Budapest, Bucharest SEE Markets: Athens, Sofia, Belgrade, Zagreb

More information

Postbank Group Interim Management Statement as of September 30, 2013

Postbank Group Interim Management Statement as of September 30, 2013 Postbank Group Interim Management Statement as of September 30, 2013 Preliminary Remarks Macroeconomic Development Business Performance Preliminary Remarks This document is an interim management statement

More information

Ile-de-France office market

Ile-de-France office market Ile-de-France office market Q2 2009 Rental values / Immediate supply The activity in both the tenant and investor markets remain very low compared to 2008. Some signs of recovery are however perceptible

More information

Frankfurt dominates Q1 activity in Europe

Frankfurt dominates Q1 activity in Europe Supply MW Take-up MW MARKETVIEW European Data Centres, Q1 215 Frankfurt dominates Q1 activity in Europe +2.4% +4.5% 16.3MW European Colocation Supply & Take-up as at Q1 215 9 8 7 6 5 Supply Take-up Forecast

More information

THE ARLA REVIEW & INDEX

THE ARLA REVIEW & INDEX THE ARLA REVIEW & INDEX for Residential Investment FOURTH Quarter 2014 Fourth Quarter 2014 Compared with three months ago, the average weighted rental return for houses is up from 5.0% to 5.1%, its second

More information

Q2 2015. Dubai Real Estate Market Overview

Q2 2015. Dubai Real Estate Market Overview Q2 2015 Dubai Real Estate Market Overview Dubai Market Summary Dubai s real estate market saw little change in the second quarter, with the slowdown in performance across all asset classes continuing,

More information

Leasing activity drives new construction in Milwaukee

Leasing activity drives new construction in Milwaukee MARKETVIEW Milwaukee Office, Q3 2015 Leasing activity drives new construction in Milwaukee Vacancy Rate 15.5% Lease Rate $22.29 PSF Net Absorption 108,597 SF Under Construction 563,717 SF *Arrows indicate

More information

DTZ Foresight European Fair Value Q3 2010 Non-core markets drive temperature rise

DTZ Foresight European Fair Value Q3 2010 Non-core markets drive temperature rise DTZ Foresight European Fair Value Q3 Non-core markets drive temperature rise 18 November Contents Overview 1 Fair Value Index 2 Fair Value Classifications 3 European Market Classifications 4 European versus

More information

Q3 2014. Dubai Real Estate Market Overview

Q3 2014. Dubai Real Estate Market Overview Q3 2014 Dubai Real Estate Market Overview Dubai Market Summary The Dubai real estate market saw a welcome levelling-off during the summer months. The broad based recovery witnessed in the residential sector

More information

Q3 2014. Cairo Real Estate Market Overview

Q3 2014. Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary The third quarter of 2014 saw further political stability as the regime proceeded with implementing its roadmap. Following the reduction of energy

More information

German bank lending: Market share developments in individual sectors

German bank lending: Market share developments in individual sectors Manufacturing, total Chemicals Metals Mechanical engineering/automotive Electrical engineering Food Utilities/Mining Construction Retail & wholesale trade Agriculture Transport Services, total Housing

More information

2015 IBB Housing Market Report

2015 IBB Housing Market Report 2015 IBB Housing Market Report Summary www.ibb.de Foreword 1 Foreword Berlin s housing market still has enormous challenges to face. Demographic change has a strong hold on the market. As migration continues

More information

Suburban Boston Office MarketView

Suburban Boston Office MarketView Suburban Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 6.7% MA UNEMPLOYMENT 6.3% OCCUPIED SQ. FT. 93.4M AVAILABILITY 20.2% SUBLEASE SQ. FT. 2.7M UNDER CONSTRUCTION 1.6M

More information

DTZ Insight Public administration employment Major office markets weather the storm

DTZ Insight Public administration employment Major office markets weather the storm DTZ Insight Public administration employment Major office markets weather the storm 27 October 2010 Contents Introduction 2 Trends in office based employment 3 Impact on office markets 8 Appendix 1: Methodology

More information

Conference Call HOCHTIEF acquires 50% in aurelis Real Estate 06 September 2007

Conference Call HOCHTIEF acquires 50% in aurelis Real Estate 06 September 2007 Conference Call HOCHTIEF acquires 50% in aurelis Real Estate 06 September 2007 Dr. Peter Noé, CFO HOCHTIEF Aktiengesellschaft Dr. Joachim Wieland, Managing Director HOCHTIEF Projektentwicklung TURNING

More information

Searching for returns: real estate investors take profits

Searching for returns: real estate investors take profits Hamburg, 14 September 2015 Investor survey: Searching for returns: real estate investors take profits - International pressure to invest opens up selling opportunities - Trend towards higher risk and cross-border

More information

Outlook for Australian Property Markets Sydney

Outlook for Australian Property Markets Sydney Outlook for Australian Property Markets 2010-2012 Sydney Outlook for Australian Property Markets 2010-2012 Sydney Residential Stimulus and the confidence drives recovery Finance commitments to buy or construct

More information

Quarterly result of 738m Profit guidance for 2014 to be exceeded slightly

Quarterly result of 738m Profit guidance for 2014 to be exceeded slightly Munich, 06 November Quarterly result of 738m Profit guidance for to be exceeded slightly Contact Media Relations Munich, Johanna Weber Tel.: +49 (89) 3891-2695 Fax: +49 (89) 3891-72695 jweber@munichre.com

More information

Unaudited Half Year Financial Report January June 2013. Creating career prospects and deploying targeted professional skills.

Unaudited Half Year Financial Report January June 2013. Creating career prospects and deploying targeted professional skills. Creating career prospects and deploying targeted professional skills Amadeus FiRe AG Unaudited Half Year Financial Report January June 2013 Unaudited Half Year Financial Report, January June 2013 1 Unaudited

More information

Strong activity on the office leasing market Commercial investment market continues strong upward trend

Strong activity on the office leasing market Commercial investment market continues strong upward trend Germany Leasing and Investment Q1 2015 MARKET REPORT Strong activity on the office leasing market Commercial investment market continues strong upward trend ANDREAS TRUMPP MRICS Head of Research Germany

More information

Deutsche Wohnen AG.» German Jour Fixe 1-1 Conference Merrill Lynch. London, 27 April 2010

Deutsche Wohnen AG.» German Jour Fixe 1-1 Conference Merrill Lynch. London, 27 April 2010 Deutsche Wohnen AG» German Jour Fixe 1-1 Conference Merrill Lynch London, 27 April 2010 1 » Agenda 1. Deutsche Wohnen at a glance 2. Results of the financial year 2009 3. Financial highlights 2009 4. Strategic

More information