The office rental index grew by 1.0% over the quarter and 8.9% over the year with six markets showing prime rent increases, led by Milan with +14% and Warsaw with +10%. Brussels was the exception, where rents decreased by 1.7%, according to Jones Lang LaSalle's research.
Alastair Hughes, CEO EMEA at Jones Lang LaSalle, commented: "Demand for office space remained at healthy levels, although prime rental growth continued to slow in the first quarter due to the diminishing economic outlook."
Despite job losses in the financial sector, European labour markets remained in good condition, driving office demand. In Q1 2008 take-up of almost 3.2 million m