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EMEA markets shrug off US slowdown

The property markets in Europe, the Middle East and Africa are shrugging off the slowdown in the USA and uncertainty in world capital markets, according to new research from CB Hillier Parker.

By Graham Parker | Updated on April 24, 2001

The property markets in Europe, the Middle East and Africa are shrugging off the slowdown in the USA and uncertainty in world capital markets, according to new research from CB Hillier Parker.

There is evidence that occupiers from the high tech sector, particularly telecoms companies, are scaling back on plans to acquire further space but this has only had a limited impact so far. For example in Stockholm, where high tech companies have accounted for a particularly large proportion of demand, a number of requirements have been put on hold and rental growth is expected to slow in the next few months.

Italy saw the strongest rental growth during the year to March 2001, and in Rome a shortage of prime space caused prime rents to jump by a third. Milan too has seen 11% rental growth in the first quarter of 2001 alone.

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