ICT sector drives European office demand

The information, communications and technology (ICT) sector has caught up with the professional services sector as the two most active drivers of take-up in the European office market, according to Savills.

Each sector accounted for 21 percent of all office take-up in the cities that Savills tracks, followed by the banking, finance and insurance sector (16 percent) in third place. Over the same period of time in 2018 and 2019, the ICT sector accounted for 17 percent and 16 percent of all office take-up, respectively.Dublin remains the city with the highest take up by ICT in Europe, with 65 percent of take up so far this year from the sector, up from 50 percent last year. Amsterdam comes second, with 48 percent, up from 19 percent during 2019, boosted by megadeals from Uber and Adyen during the first half of 2020.

Jeremy Bates, EMEA head of occupational markets at Savills, said, “Amsterdam, Berlin, Dublin, London City, Madrid, Munich and Prague all observed increases