European Corporate Occupier Conditions – Industrial Q3 2015
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European Industrial Market Conditions - Q3 2015 Rents per square meter varied widely across European markets in Q3 2015, ranging from less than €50 in some Eastern European cities to over €80 in major Western European markets. The most competitive opportunities for occupiers were in Hungary, Sweden, and Russia due to robust short-term supply and low property costs. Occupier incentives also varied significantly across markets, from half a month free in Germany and the UK to two months free or more in parts of Eastern Europe. Overall demand remained high across Europe in Q3 despite a limited prime supply in many top markets.
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European Corporate Occupier Conditions – Industrial Q3 2015
- 1. European Industrial Market Conditions - Q3 Rents (€/sq m) <€50 sq m pa Antwerp Athens Budapest Bucharest Lille Lisbon Lyon Prague Warsaw €50-€65 sq m pa Belgrade Berlin Bratislava Brussels Istanbul Madrid Milan Paris St Petersburg Rotterdam Zagreb >€80 sq m pa Amsterdam Birmingham Barcelona Helsinki London Manchester Moscow Oslo Stockholm €65-€80 sq m pa Copenhagen Dublin Frankfurt Gothenburg Hamburg Munich European Industrial Market Conditions - Most Competitive Opportunities Robust Short-term Supply Hungary Sweden Russia Low Property Costs (per sq m) € Romania Serbia Slovakia Croatia France Turkey European Industrial Market Conditions - Occupier Incentives 0.5 month free Germany, UK 1 month free France, Russia, Netherlands, Sweden, Finland, Hungary 1.5 month free Italy, Poland, Czech Republic 2+ months free Croatia, Serbia, Spain Average months free in a calendar year on a standard lease. COPYRIGHT © JONES LANG LASALLE IP, INC 2015 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them. This summary of European Industrial Occupier Conditions leverages JLL’s research, economic insight and statistics, providing an overview of real estate occupancy trends in EMEA. Please feel free to share your feedback and contact us with any questions. For more information Alexandra Tornow EMEA Logistics & Industrial Research alexandra.tornow@eu.jll.com < €70 > 9.5% European Corporate Occupier Conditions Logistics & Industrial | Q3 2015 At a glance Retail sector sees spike in demand and leads all other sectors across region in Q3 With high demand and low vacancy, prime supply is increasingly limited across Europe Ryan Loftus EMEA Logistics & Industrial Research ryan.loftus@eu.jll.com Prime rents climb in recover- ing Spanish markets and in UK, but most markets see no rental growth Demand stays high as take-up slightly grows and exceeds 4.3 million sq m for second quarter in a row of total stock Speculative develop- ment still down in Europe despite increase in UK and Poland