EMEA Office Markets 2022 – Glass half full?
Unprecedented market changes continue for EMEA Offices with the intent to return to the office continuing to accelerate in 2022, investors and occupiers’ experiences continue to evolve
- Chris Staveley
- Alex Colpaert
- Alexandra Ingram
- Brad Greenway
- Ed Daubeney
The Covid-19 pandemic and resulting lockdowns brought uncharacteristic and unprecedented levels of change to the EMEA Office Market and while occupiers enjoyed an end to presenteeism and the rise in a more flexible way of working, trading was heavily impacted. 2020 saw the biggest decrease in office take up ever recorded (-30% based on a 10 year average) so, not surprisingly, 2021 was approached with a great deal of caution, with the majority of activity forming around small-medium sized deals (1000-1500 sq m) and mostly within the technology, law and finance sectors.
In 2022 however, the story is starting to evolve; employment growth across Europe is predicted this year and research shows that occupiers are increasingly enthusiastic to reconnect with colleagues and the workplace and to resume a sense of normality. Offices are also becoming increasingly important for businesses to develop and retain talent, essential for client services, as well as brand and reputation management. As a consequence we are seeing movement in the market with investor demand increasing, particularly for Grade A assets and property with great Environmental, Social and Governance (ESG) credentials. The report that follows provides insight into the new focus for the development pipeline, the need for corporates to continue to ‘flex’ their portfolio and also what to expect from leasing trends throughout 2022.
Download the report to find out more.