Office transaction volumes in Spain, Norway and Poland have soared in the first half of 2019, in some cases more than doubling the amount registered during the same period last year.

Volumes in the sector have increased from €760 million to €1.63 billion in Spain, €700 million to €1.47 billion in Norway, and €830 million to €1.6 billion in Poland, according to Catella. The manager says that the increase in the three countries is due to investors looking for markets that offer attractive risk-return ratios and good growth potential.

Germany was the largest office investment market (€11.65 billion), attracting almost a quarter of the total office investment volume (€43.1 billion) in the 18 European countries analysed by Catella. The UK and France, each with around €9 billion, were the next largest markets.

Across 37 cities analysed by the manager’s research team, monthly prime office rents have risen to an average of €34.40 per square metre,