1. Home
  2. Press
  3. Offices in Europe: Beginnings of a gradual recovery in sight

Although the office sector saw the steepest fall in investment of any asset category in 2023, the market is gradually recovering, underpinned by a consolidation in take-up, a stable vacancy rate and rising prime rents.

Slow start to the year for letting activity

 The slowdown experienced in 2023 has continued into early 2024, with take-up still weak, mainly due to ongoing economic and geopolitical uncertainties. Consequently, volumes for the 18 leading markets* came to 1.82 million sqm at the end of Q1 2024, down 5% vs Q1 2023.

Volumes fell further in several European markets, including Rome (-64%), Dublin (-39%), Amsterdam (-38%), Hamburg (-21%) and London (-17%), in contrast to Barcelona, Frankfurt, Munich, Lyon and Paris, which all saw an upturn in letting activity.

Graph offices EU

Download the press release for more insights

Find out more numbers and statistics in European offices.

BNP Paribas Real Estate Press
Media Relations
press.rebe@realestate.bnpparibas
Download the press release
* Required fields. If you do not fill in these fields, we will not be able to respond to your requests
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.

BNP Paribas Real Estate Advisory & Property Management Luxembourg SA, Kronos Building 10, rue Edward Steichen, 2540 Luxembourg - uses cookies and other methods to process information about you (such as identification data, including your contact details) for the purposes of processing the requests that you send to us via the website and, in some cases, for marketing purposes. For further information about how BNP Paribas Real Estate Advisory & Property Management Luxembourg SA processes your personal data in this context and about your rights (including your rights of access, correction, objection to processing for marketing purposes and your right to give instructions on how your personal data will be used after your death as well as, in certain circumstances, a right to erasure, to restrict processing, to data portability and a right to object to other forms of processing) and BNP Paribas Real Estate Advisory & Property Management Luxembourg SA's obligations in this area, please take a look at our Data Protection Notice available at https://data-privacy.realestate.bnpparibas/.