EMEA Offices Rents Map 2011 - Colliers
EMEA Offices Rents Map 2011 - Colliers
EMEA Offices Rents Map 2011 - Colliers
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Office<br />
<strong>Rents</strong> map<br />
EUROPE, MIDDLE EAST AND AFRICA<br />
Accelerating success.
<strong>EMEA</strong> Office <strong>Rents</strong> H2 <strong>2011</strong><br />
NORWAY<br />
Oslo<br />
€35.0 <br />
5.50% ⊳<br />
7.5% <br />
350,000<br />
SWEDEN<br />
Stockholm<br />
€42.0 ⊳<br />
5.00% ⊳<br />
6.0% <br />
35,000<br />
€22.0 ⊳<br />
5.75% ⊳<br />
11.5% <br />
175,000<br />
Helsinki<br />
Tallinn<br />
€13.3 <br />
7.50% ⊳<br />
9.2% <br />
42,000<br />
FINLAND<br />
ESTONIA<br />
Saint Petersburg<br />
€23.7 ⊳<br />
11.00% ⊳<br />
13.0% <br />
343,000<br />
RUSSIA<br />
Key<br />
Cairo<br />
€16.8 <br />
9.00% <br />
27.0% <br />
1,403,900<br />
EGYPT<br />
SAUDI<br />
ARABIA<br />
Average class A net rent (EUR/sqm/month)<br />
Prime yield (%)<br />
Vacancy rate (%)<br />
Under construction<br />
Definitions<br />
€20.6 <br />
10.00% <br />
37.0% <br />
1,297,000<br />
Riyadh<br />
• Average Class A net rent: The average open-market tier of<br />
rent that could be expected for a Class A unit of standard<br />
size, commensurate with demand (typically 500-1,000 sq m<br />
for offices), at the survey date. The figure excludes service<br />
charges and taxes, and does not reflect tenant incentives.<br />
• Prime yield: The yield an investor is prepared to pay to buy<br />
a Grade A building, fully-let to high quality tenants at an open<br />
market rental value in a prime location. Lease terms should<br />
be commensurate with the market e.g. typically 5yrs +.<br />
Net initial yield = First years’ net income/purchase price<br />
(prior to deducting fees and taxes).<br />
• Vacancy rate: Percentage of stock (total completed office<br />
floor space) within the specified area that is unoccupied.<br />
For Central & Eastern Europe (excluding Turkey) the figure<br />
is relevant to A&B class space only.<br />
UNITED<br />
ARAB<br />
EMIRATES<br />
• Under construction: Figure represents the amount of new<br />
floor space being actively developed at the stated point in time.<br />
Data as at 31st December <strong>2011</strong><br />
Arrows indicate expected movement over the next 12 months.<br />
IRELAND<br />
Dubai<br />
Abu Dhabi<br />
PORTUGAL<br />
Lisbon<br />
€15.0 <br />
7.50% <br />
11.9% <br />
63,610<br />
*Rental figure represents an average of A&B class space in this market.<br />
€27.6 <br />
10.00% <br />
50.0% <br />
1,870,500<br />
€25.6 <br />
10.00% <br />
10.0% N/A<br />
743,800<br />
Belfast<br />
€13.5 ⊳<br />
6.25% ⊳<br />
23.7% ⊳<br />
N/A<br />
Dublin<br />
€20.0 ⊳<br />
7.50% ⊳<br />
19.0% <br />
0<br />
€24.8 ⊳<br />
6.00% ⊳<br />
12.2% <br />
15,610<br />
Glasgow<br />
Manchester<br />
Madrid<br />
€24.0 <br />
5.75% ⊳<br />
10.5% <br />
310,000<br />
€23.7 ⊳<br />
6.00% ⊳<br />
16.5% <br />
30,190<br />
Edinburgh<br />
UNITED<br />
KINGDOM<br />
Bristol<br />
€25.8 ⊳<br />
6.25% ⊳<br />
19.8% <br />
4,880<br />
€22.6 ⊳<br />
6.00% ⊳<br />
10.8% <br />
21,830<br />
SPAIN<br />
Birmingham<br />
London - City<br />
London - West End<br />
Bordeaux<br />
€13.5 ⊳<br />
6.50% ⊳<br />
5.7% ⊳<br />
10,000<br />
€22.6 ⊳<br />
6.00% ⊳<br />
17.6% <br />
27,870<br />
€52.2 <br />
5.25% <br />
9.0% <br />
297,560<br />
€83.4 <br />
4.00% ⊳<br />
4.8% <br />
263,480<br />
Paris<br />
€62.5 ⊳<br />
4.50% ⊳<br />
7.0% <br />
690,000<br />
€10.4 ⊳<br />
7.25% ⊳<br />
7.8% ⊳<br />
12,000<br />
Antwerp<br />
FRANCE<br />
BELGIUM<br />
Lyon<br />
€18.8 ⊳<br />
6.00% ⊳<br />
7.0% ⊳<br />
N/A<br />
Amsterdam<br />
NETHERLANDS<br />
SWITZERLAND<br />
Geneva<br />
Montepellier<br />
€12.5 ⊳<br />
7.00% ⊳<br />
3.4% ⊳<br />
N/A<br />
€17.1 ⊳<br />
6.50% ⊳<br />
18.7% <br />
250,000<br />
€45.2 <br />
4.25% <br />
2.4% <br />
25,000<br />
DENMARK<br />
Düsseldorf<br />
€20.0 <br />
5.25% ⊳<br />
10.7% <br />
189,300<br />
Milan<br />
€40.0 ⊳<br />
5.50% ⊳<br />
8.8% <br />
370,000<br />
Frankfurt<br />
Stuttgart<br />
€14.2 ⊳<br />
5.40% ⊳<br />
5.7% <br />
143,900<br />
Zurich<br />
€32.9 <br />
4.10% ⊳<br />
5.5% <br />
230,000<br />
Hamburg<br />
€22.0 ⊳<br />
4.70% ⊳<br />
8.0% ⊳<br />
387,000<br />
GERMANY<br />
€30.0 <br />
5.20% ⊳<br />
15.8% <br />
321,100<br />
Copenhagen<br />
ITALY<br />
Rome<br />
€29.0 ⊳<br />
6.00% <br />
6.0% ⊳<br />
100,000<br />
€14.6 ⊳<br />
5.00% ⊳<br />
7.7% ⊳<br />
100,000<br />
€19.0 ⊳<br />
5.00% ⊳<br />
7.9% <br />
140,000<br />
Berlin<br />
Munich<br />
€27.0 <br />
4.50% ⊳<br />
7.1% <br />
265,000<br />
€17.0 ⊳<br />
6.20% <br />
12.0% <br />
126,000<br />
Prague*<br />
CZECH REPUBLIC<br />
Vienna<br />
€18.0 <br />
3.50% ⊳<br />
5.0% ⊳<br />
110,000<br />
AUSTRIA<br />
Zagreb*<br />
€12.5 ⊳<br />
9.25% <br />
10.0% <br />
104,440<br />
POLAND<br />
€15,0 ⊳<br />
7.50% ⊳<br />
5.1% <br />
110,430<br />
Wroclaw*<br />
HUNGARY<br />
CROATIA<br />
€11.5 ⊳<br />
7.50% ⊳<br />
11.3% <br />
83,040<br />
Bratislava*<br />
Krakow*<br />
LATVIA<br />
SLOVAKIA<br />
Belgrade*<br />
€14,50 ⊳<br />
7.50% ⊳<br />
8.5% ⊳<br />
41 600<br />
Budapest*<br />
€12.5 ⊳<br />
7.75% ⊳<br />
19.2% <br />
20,500<br />
€13.0 ⊳<br />
9.00% ⊳<br />
20.8% ⊳<br />
93,260<br />
LITHUANIA<br />
€22.6 ⊳<br />
6.25% ⊳<br />
6.7% <br />
592,130<br />
Warsaw*<br />
SERBIA<br />
GREECE<br />
Riga<br />
€12.0 <br />
8.00% ⊳<br />
10.3% <br />
5,690<br />
Vilnius<br />
€13.1 ⊳<br />
8.50% ⊳<br />
9.5% <br />
31,500<br />
UKRAINE<br />
ROMANIA<br />
Athens*<br />
€14.0 <br />
7.50% <br />
16.0% <br />
20,000<br />
Bucharest*<br />
Sofia*<br />
€15.0 ⊳<br />
8.25% ⊳<br />
16.0% <br />
100,000<br />
€9.0 ⊳<br />
9.00% ⊳<br />
25.2% <br />
328,590<br />
BELARUS<br />
Minsk<br />
€33.0 ⊳<br />
14.50% ⊳<br />
12.0% ⊳<br />
199,900<br />
BULGARIA<br />
Istanbul<br />
Kyiv*<br />
€25.5 <br />
11.00% ⊳<br />
13.5% <br />
320,000<br />
€24.0 ⊳<br />
7.00% ⊳<br />
17.4% ⊳<br />
368,800<br />
Moscow<br />
€52,5 <br />
9.50% <br />
10.3% ⊳<br />
2,183,720<br />
TURKEY<br />
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