The winter 2015 edition of the EMEA Corporate Occupier Conditions sheds light on the current market conditions, rental favourability and the opportunities and challenges for corporate occupiers across EMEA.
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EMEA Corporate Occupier Conditions, Winter 2015
1. How will 2015 look
for your business?
EMEA Corporate Occupier Conditions
Winter – 2015
Source: Oxford Economics
Economic Growth
Eurozone GDP gradually improving
supported by a rebound in Germany and
Spain and strengthening recovery in Ireland.
TALENT
Headline unemployment
remains high but occupiers
still cite talent attraction and
retention as a core priority.
Improving jobs
outlook in 2015
but recovery will
be gradual.
OFFICE Demand
Take up set to strengthen in 2015
and again in 2016
CHOICE OF QUALITY
SPACE FALLING
Construction activity trending
upwards but new supply will take time
to come online leading to reduced
choice for some occupiers.
WORKPLACE
The ‘Future of Work’ will influence
occupier decisions. A focus on:
People productivity
Talent attraction retention
Better space utilisation
RISK VOLATILITY
Geopolitical instability is seen as the greatest
threat to economic growth in 2015.
82%of
executives regard
geopolitical
instability as a
significant risk to
global growth.
Competition for space will
increase driven by a clear preference
for modern, highly accessible
space which supports the
productivity agenda.
Quality choice will remain
constrained despite completions
of almost 5 million sq m.
Costs will increase.
32 out of 70 markets will remain
tenant favourable in 2015.
Expectations for 2015:
Over page are the latest EMEA Market Outlook figures
Source: Mckinsey Economic Snapshot, September 2014
1.5%0.9%
2014
2015
2015
10.3m sq m
2016
10.9m sq m