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European Office Rents Stall

LONDON-Rental growth has ground to a standstill in many of the prime office areas of Europe, according to research released today. Telecoms and high-tech operators have put their requirements on hold until the outlook for the US and global economies becomes clearer.

By Steve Killick | Updated on August 01, 2001

LONDON-International agent CB Hillier Parker says that in most major European cities rents have come to a standstill in the second quarter of 2001. According to the firm’s Market Index Brief, rents went up by 20% during the last year with nearly all the growth in the last half of last year. Take-up of space is also down.

The report analysed the take-up in the prime areas of Central London, Paris, Madrid, Barcelona, Frankfurt and Brussels and the results make dismal reading. Take-up in Paris is down by 40% while the Frankfurt office market has dropped by nearly 38%.

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