Athens, Madrid and Istanbul Lag Europe Office

LONDON-After two years of upheaval, signs of recovery are emerging in Europe’s office markets, but the outlook remains mixed with recovery taking place at different speeds, says realtor King Sturge.

A few lead markets are now characterized by rising take-up and rents, and falling vacancy and yields, it said in its latest survey. “Here, global links have been the critical factor in the early rebound,” commented King Sturge’s Andrew Burrell. “In western Europe, the green signals are clearest in London, Geneva and Paris, where businesses have benefited from well-established global connections, particularly in finance. In eastern Europe, it is in the emerging economies of Russia and Turkey where the office rebound has been strongest, fed by a recovery in exports and commodity prices.”