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- The first quarter of 2012 started quietly, with 24,140 m taken up, slightly down YoY and reflecting the economic climate.
- The vacancy rate continues to decrease, and came in at 5.9% in Q1 2012 vs. 6.2% 3 months ago. At constant demand and given the very limited speculative completions awaited this year and in 2013, we expect the vacancy rate to trend back to the 10 year average of 4.8%.
- Pipeline for 2012 is low, with 72,000 m expected completions, of which 48.6% is speculative. In 2013, completions are expected at 74,000 m, 71% of which being already pre-let or pre-sold.
- Prime rents have increased in the CBD to EUR40/m/month, while they have remained stable in other districts. Incentives are under...
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