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DTZ Sees Further Rental Growth Divergence

LONDON- Slower rental growth and a widening divergence between capital values of prime and secondary offices will see investors shift focus in 2011 to secondary assets in Europe.

By Allan Saunderson | Updated on February 17, 2011

LONDON-Slower rental growth and a widening divergence between capital values of prime and secondary offices will see investors shift focus this year to secondary assets in Europe, says realtor DTZ, although progress in different markets will diverge. Prime rents remain below peaks in many markets, attracting to occupiers for whom they had been off limits.

In its 2011 Global Outlook, DTZ said that the secondary market may diverge from prime property. The study forecasts a 5.4% hike in prime office rents in London, with only a 1.2% rise in secondary rents. Frankfurt office rents are sensitive to Germany’s GDP, with investors in prime premises exposed to stronger rental growth in a surge scenario, compared to other European capitals.

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