X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Rental growth in Europe’s key office markets slowed dramatically through the summer of 2001, according to FPD Savills. And the blow to business confidence post 11 September has hit take-up, meaning that rents in some locations could fall.

The average rate of rental growth fell from 13% per annum at the end of March 2001 to 9% by the end of September. But some locations have bucked the trend. Frankfurt saw rents climb 33% to DM 1,4440 per sq m ($62 per sf) per annum in the year to September 2001. Athens saw 25.9% growth over the period and the City of London 25%.

FPD Savills’ European Research Analyst Eri Mitsostergiou said: ‘The events of 11 September have exacerbated the gloomy economic outlook and shaken the global business community. We believe that rental growth will subside in the short term and it might even go negative in some cities.’

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.