Despite a drop in take-up, the positive net absorption and the low level of deliveries succeeded in pushing down the vacancy rate and increasing prime rents on average in Europe. But this global positive development hides very important discrepancies.
Poor economic conditions are weakening occupier demand
Investor interest stays concentrated on secured offices in 2012
MARKET REPORT - HOUSING AND THE ECONOMY
The Economy is showing better signs of growth. Consumer spending is finally rising as employment rises and real incomes are being squeezed less by inflation.
Against this background we expect UK growth to stengthen over the next few years.
Interest rates should start to get back to normal levels next year, but this will be a slow and gradual process.