London only market to experience growing office rents over next three years
London’s West End and City districts are the only European office markets that will experience growing office rents over the next three years.
A report by IPF, which collates forecasts from 22 property advisers and investment managers, has found that the overall trend for European office rents is one of weakening growth up until 2021.
The report covers 29 markets in 27 countries and predicts that London’s West End will see rent growth of –0.4 percent this year, 0 percent in 2020 and 1.1 percent in 2021. London’s City CBD will see levels fall from –0.8 percent in 2019 to –0.9 percent in 2020, but then rise the following year to 1.3 percent. In contrast, the average growth rates across Europe’s main cities will drop from 2.8 percent this year to 1.8 percent in 2020 and then to 1.4 percent in 2021.
Rent growth levels in Berlin will undergo the