Prime rents remained stable or edged upward slightly in most European cities during 2007 despite the global financial turmoil in the latter part of the year, UK property consultant NB Real Estate has confirmed in its European Real Estate Guide 2008.
Prime rents remained stable or edged upward slightly in most European cities during 2007 despite the global financial turmoil in the latter part of the year, UK property consultant NB Real Estate has confirmed in its European Real Estate Guide 2008.
'Although the impacts of the credit crunch are uncertain, most major cities are forecasted to remain economically stable throughout 2008, with possibilities of a slight slowdown. The economic growth through 2011 is estimated at 2.4%, and overall prime rents are estimated at an increase of 1%,' said James Crisp, director of Corporate Consulting Europe at NB Real Estate.
The report found that Paris, Oslo, Geneva and Istanbul were among the strongest markets in 2007. The most expensive cities to lease office premises in Europe were Moscow, Dublin and London’s City and West End markets. The NB Real Estate Guide covers 26 countries and has been updated this year to include Lithuania, chosen for its emerging importance as a business and property location in the Baltic States.
NB Real Estate is a partner of ONCOR International, a network of real estate consultancies that provide access to independent advice in more than 220 markets worldwide.
For more information, go to http://www.nbrealestate.co.uk/Company/research.aspx or click on the link below
