Fueled by low unemployment levels and lack of prime stock, office rents are predicted to increase across Europe in 2019 by an average of 3.4 percent y-o-y, according to Savills. A number of occupiers have chosen to temporarily satisfy their needs through flexible office arrangements in order to deal with a lack of space or current political uncertainty. āAn improving economic backdrop across Europe will create more office-based jobs and increased demand for new office space, particularly high-quality premises in good locations,ā said Mike Barnes, associate for European research at Savills. According to Oxford Economics, an additional 2.8 million office-based jobs are expected to be created in EU countries over the next five years, reflecting 4.4 percent growth, with Sweden (8.5 percent) and Denmark (8.2 percent) forecasted to see the strongest employment growth.
