A new report detailing the health of European office property markets has found that after two years of upheaval, there are now signs of recovery. However, the outlook remains varied, with different countries recovering at their own pace, according to the King Sturge’s European Office Property Markets report.
Indeed, Western European markets such as London, Paris and Geneva have benefited from a strong resurgence of business in their respective regions and have been performing well. This can also be said for Eastern European countries such as Russia and Turkey, where rapid economic growth has helped the real estate markets.
Elsewhere, the office markets in Athens and Madrid are clearly falling well behind in terms of recovery and the report suggests that this could be the case for the forthcoming year, with no obvious signals that the slump will be reversed.
The report concludes that the economic recovery is likely to continue. The eurozone is expected to lag behind the UK and Nordics on GDP growth, while the emerging economies located in Eastern Europe will put in the strongest growth.