Rents for prime office premises in Europe is expected to stabilize this year, according to a new report by Colliers International.
European office centers such as Berlin, London, Stockholm and Warsaw will reflect the best results in terms of wage growth in the segment.
“Based on expectations of robust economic growth we expect prime rents are generally stable in most of the 25 centers (market) in 2011,” commented the company.
Despite concerns about public debt, which was a leading topic in 2010, Europe reported a return to growth this year, especially in Germany.
However, so far economic activity is not apparent in the form of rental growth demand.
Part of the 25 major markets in the study still report wage declines in the second half of last year.
One of the most vocal exceptions to the trend were London and Paris, which reported strong gains.
London has shown a real resilience in the financial crisis and demonstrate its global capacity, “says Mark McAllister, director of Colliers.
“Businesses and investors continue to accept a relatively stable environment in which to locate their activities and protect their capital. As such, the use of offices to improve in 2010 as a positive rental growth was recorded in the City and West End. ”
With respect to most of the major investment centers reported a decline in profitability in 2010 as investors joined their expectations for more stable long-term development of the sector by the threat of state bankruptcy faded in the second half of the year.
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