After take-up began to rally in second quarter 2021, the office-occupier market in Europe has pursued its path to recovery, according to BNP Paribas Real Estate. The beginning of the year saw a solid quarter of letting activity with about 2.29 million square meters (24.64 million square feet) transacted over those three months in the 17 main European office markets (Amsterdam, Barcelona, Berlin, Brussels, Dublin, Cologne, Düsseldorf, Frankfurt, Hamburg, Central London, Luxembourg, Madrid, Milan, Munich, Central Paris, Rome, Warsaw), up 41 percent compared to last year. Quarterly volumes are in line with their 10-year average for first quarter (2.14 million square meters/23 million square feet).
Take-up recovered to pre-COVID levels in Q1 2022
Take-up across the 26 markets combine
