European Office Occupier Markets

Track and compare 36 key real estate markets in Europe with our interactive Office Rental Clock

The pace of economic activity has slowed across the board in Europe. Declining global trade volumes, in part the result of escalating protectionist measures, in part due to a softening in global demand, has led industrial output in Germany into recession and this threatens to drag the services sector down with it. Political risks continue to top the agenda, especially in the UK with the impending Brexit deadline, though they have temporarily dissipated in Italy. Policymakers are responding to mitigate the slowdown, with the ECB cutting rates and restarting its asset purchase programme, while fiscal authorities are weighing up additional spending and tax cuts should a deterioration in conditions really take hold. For now, the services sector is holding up, employment remains high and recruitment continues. This should support rental levels in most key European office markets.
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JLL's Office Rental Clock demonstrates where each market sits within its rental cycle.
European Office Rental Clock
Exit city view

Source: JLL, September 2019


This diagram illustrates where JLL estimate each prime office market is within its individual rental cycle at the end of September 2019.

• Markets can move around the clock at different speeds and directions.

• The diagram is a convenient method of comparing the relative position of markets in their rental cycle.

• Their position is not necessarily representative of investment or development market prospects.

• Their position refers to Prime Face Rental Values.

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