A Cushman & Wakefield Research Publication - 2017 Global Forecast

The duration of a typical real estate cycle is estimated to range from 7 to 10 years which would place the current cycle at an advanced stage. Office rents in many European property markets are now above previous cyclical highs while

employment growth is set to moderate going forwards. The combination of these factors coupled with an uptick in new supply for certain locations means that rental growth is set to slow over the forecast period. The best rental growth performers will continue to be the peripheral European economies of Ireland and Spain plus Portugal, still befitting from a cyclical upswing after being impacted the most during the GFC and Eurozone crisis.

MOSCOW

WARSAW

“ The European outlook is broadly landlord-favorable or neutral. Locations classified as tenant- friendly typically have rising development activity impacting vacancy and rental growth.”

BUCHAREST

ISTANBUL

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