The industry's own research.
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By end of Q3 2025, Portugal's industrial and logistics investment reached €148 million year-to-date, surpassing 2024 and 2023 volumes and representing 8% of total commercial real estate investment, though an imbalance persists between strong occupier demand and slower investment activity due to a critical shortage of modern, technically compliant facilities. Greater Lisbon recorded 205,594 sq m of take-up in the first nine months of 2025 (down 5% year-over-year), with logistics stock at 3.52 million sq m (+8% year-over-year) and a 3.66% vacancy rate, with the Sacavém-Alverca and Montijo-Alcochete corridors accounting for 57% of take-up driven by 3PL operators and distribution companies.

Dublin's industrial and logistics market recorded 491,600 square feet of take-up across 17 deals in Q3 2025, representing a 71% year-on-year increase, while 763,900 square feet of new supply completed across eight units—the highest quarterly delivery since Q2 2023. Prime rents increased by €0.75 per square foot to €13.75 psf over the past year, and the vacancy rate rose to 2.4% as delivery of vacant completions accelerated, though Dublin maintains one of Europe's lowest vacancy rates despite strong supply growth.
Savills Spain has published Vision Valencia 2025, a real estate market analysis document covering all key indicators for the city. The report, presented by Ignacio Olivas, Director of Savills Valencia, indicates the city is entering a phase of reaffirmation and leadership while on track to reach record real estate investment figures this year, with analysis across residential, office, industrial-logistics, retail, hotels, and alternative segments.

Barcelona's office market recorded approximately 120,000 square meters of contracted space in the third quarter of 2025, positioning it to reach 350,000 square meters annually, with vacancy declining to 10.65% and average rents reaching a historic peak of 19.80 euros per square meter per month. Large-scale transactions exceeding 5,000 square meters represented 5.4% of demand, flex operators expanded to comprise 10.6% of total absorption, and investment volume reached approximately 580 million euros, with the Prime CBD yield remaining stable at 4.75%.

Spain's residential market accelerated in the first half of 2025 with sales growing 8.5% year-on-year to mark the strongest start since 2007, driven by falling mortgage interest rates (around 2.8%), employment growth, and migration flows that are projected to add over 5 million inhabitants to Spain between 2025 and 2039. Housing prices rose 6.2% in H1 2025 to exceed €2,090/m², with dynamic markets such as Madrid (+7.7%), Málaga (+7.4%), and Valencia (+7.4%) outperforming the national average, while a structural supply deficit estimated at 250,000 units annually continues to fuel upward price pressure despite improvements in new-build permits.

During the second quarter of 2025, Barcelona's office market recorded approximately 95,600 square meters of lettings, representing a 66% increase from the first quarter and a 40% year-on-year rise, with notable transactions including Deloitte's 14,100 square meter lease in the Centro Ciudad zone and the Barcelona municipal government's 8,400 square meter agreement in the 22@ district. The average rent across the market reached 18.35 euros per square meter per month, a 3% increase from the previous quarter, while the availability rate declined to 11.67% due to strong absorption and the absence of major new supply additions to the market.

Bristol's office market achieved 604,119 square feet of take-up across 110 transactions in 2025, representing 37% growth over 2024 and 16% above the five-year average, with Grade A and Prime space accounting for 54% of total take-up. Prime headline rent reached £50 per square foot in 2025, a 2% increase, while total availability fell to 1.14 million square feet with a vacancy rate of 8.8%, and the Insurance & Financial sector led activity with 147,507 square feet leased across 14 transactions.
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This is a market report published by Savills at the end of 2025 covering the office letting market in Cologne, Germany during the fourth quarter of 2025.
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This is a market report published by Savills in Q4 2025 covering the investment real estate market in Cologne, Germany.

Manchester's office market demonstrates resilience driven by Professional Services, Tech, and Education sectors, with the TMT sector accounting for 50% of graduate retention and dominating take-up, while the Education sector transacted 70,000 sq ft year-to-date in 2025. Savills forecasts the top achieved rent of £45 per sq ft could rise to £52 per sq ft by end of 2026 (16% growth), with 75% of office space expected over the next three years coming from refurbished stock as new-build activity remains constrained at 318,000 sq ft currently under construction.

This is a quarterly data report on the Edinburgh office market published by Savills in September 2025, presenting occupational office figures for the third quarter of 2025.

During Q1–Q3 2025, Bristol office take-up totalled 439,420 square feet across 78 transactions, with Grade A and Prime space comprising 61% of activity and rents reaching £50 per square foot, up 2% from the prior quarter. Supply at end-Q3 stood at 1.3 million square feet with a 10.5% vacancy rate, while the Insurance & Financial Services sector led demand with 130,352 square feet leased, followed by Property Company, Development & Construction at 71,114 square feet.

Edinburgh's office market in H1 2025 recorded 197,411 square feet of take-up across 60 transactions (21% higher than H1 2024), with Grade A space particularly strong at 112,588 square feet, while overall availability decreased to 1.7 million square feet with a 12.9% vacancy rate and Prime headline rents holding steady at £48 per square foot. Savills forecasts Prime rents reaching £53–£55 per square foot by end-2029, with the Professional sector leading activity at 27% of take-up and the Business & Consumer sector accounting for 25%.

Bristol's office market in the first half of 2025 recorded 211,653 square feet of take-up across 44 transactions, with Grade A and Prime space accounting for 47% of total activity, while availability decreased to 1.97 million square feet and the vacancy rate fell to 9.5%, indicating constrained supply. Prime rent increased 2% to £49 per square foot—the highest across UK Big 6 markets—with projections anticipating growth to £54 per square foot by 2027, driven by expected 16% GVA growth and 7,920 new jobs in the professional, tech and scientific sector over the next decade.

Bristol's office market faces a critical supply-demand mismatch, with strong occupier demand for high-quality flexible space constrained by a limited pipeline of prime commercial developments; prime rents have grown 28% since end-2019 and are projected to reach £54 per square foot by 2029, with the University of Bristol's £500 million Temple Quarter Enterprise Campus expected to catalyze commercial growth and refurbishment activity. The document identifies refurbished offices as increasingly competitive alternatives to new builds amid supply shortages, with Grade A and Prime buildings accounting for 41% of H1 2025 take-up, while Bristol also positions itself as a leading UK hub for artificial intelligence research backed by £21 million in UKRI funding and home to major aerospace companies valued at over £2.7 billion.

This is a Q1 2026 data-focused report published by Savills presenting occupational office market figures for Birmingham, UK.

Birmingham's office market experienced strong take-up of 703,430 sq ft in 2025, which was 2% above the five-year annual average, with Grade A and Prime space accounting for 73% of total activity across 100 transactions. Availability fell to 1.7 million sq ft at the end of Q4 2025 (an 11% decrease from the previous quarter), the Prime headline rent reached £46 per sq ft with forecasts predicting further 30% growth to approximately £60 per sq ft by end of 2030, and the Professional sector led demand at 41% of total take-up.
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This is a market report published by Savills in December 2025 covering the office letting market in Munich, Germany during the fourth quarter of 2025.

This is a market report published by Savills in Q4 2025 covering the logistics sector in London and the South East of England.
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In 2025, Munich's commercial real estate investment market generated approximately 2.4 billion euros in transaction volume, representing a 12 percent decline from 2024 and 53 percent below the ten-year average, with retail properties leading by volume at 930 million euros followed by office properties at 580 million euros. Prime yields for offices stood at 4.0 percent at end-December 2025 (down 10 basis points from the prior quarter), while retail properties maintained a 3.9 percent prime yield, with transactions concentrated within the Altstadt Ring and increasingly dominated by private capital, particularly in insolvency sales where banks have begun accepting more realistic valuations.

This is a quarterly data report published by Savills on December 31, 2025, presenting occupational office market figures and metrics for Edinburgh, UK as of Q4 2025.

This is a fourth-quarter 2025 market report published by Savills covering the build-to-rent sector in the United Kingdom, with a focus on London. The report provides an update on multifamily rental market conditions and developments in the UK during that period.

Central London office take-up totalled 2.63 million sq ft in Q4 2025 with 188 transactions completed, down 19% year-on-year and 13% below the ten-year average, though the year saw 10 transactions over 100,000 sq ft—the highest in three years—driven by strong demand from Insurance & Financial Services (31% of space), Tech & Media resurgence, and preference for high-quality space with 77% of 2025 lettings in recently developed or refurbished buildings. Central London investment turnover reached £9.88 billion across 220 transactions in 2025, up 48% on 2024, with vacancy rates at 7.4% (down 40bps quarterly and 10bps year-on-year), City Prime rents reaching a record £105.26 per sq ft (up 6.8%), West End Prime rents at £166.61 per sq ft (up 6

This is a sector spotlight report published by Savills at the end of 2025 covering the UK hotel market, with a focus on London. The report provides an overview of the hospitality sector in the United Kingdom and European context.
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Birmingham's office market recorded 288,018 sq ft of take-up in Q4 2025, the highest fourth-quarter figure since 2017, representing a 110% increase from Q4 2024, with annual 2025 take-up totaling 703,430 sq ft and professional services accounting for 40% of activity. Headline rents reached £46 per sq ft in Q4 2025 and subsequently increased to £52 per sq ft in early 2026, with Savills forecasting continued prime rent growth over the next five years as supply remains constrained.

Manchester's office market recorded 771,511 square feet of take-up across 147 transactions in Q1–Q3 2025, with the TMT sector accounting for 37% of activity and Grade A and Prime space comprising 50% of total take-up. Total availability declined 3% to 2.8 million square feet by end-Q3 2025, reducing the overall vacancy rate by 40 basis points to 10.7%, while Grade A vacancy fell to 2.9% and Prime remained at 2.1%.

Manchester's office market saw take-up of 581,974 sq ft across 102 transactions in H1 2025, representing 14% growth versus H1 2024 and 31% above the five-year H1 average, with the TMT sector accounting for 42% of leasing activity. Overall availability decreased to 2.9 million sq ft with an 11.1% vacancy rate, while Prime headline rent stands at £45 per sq ft with expected growth above £50 per sq ft as new speculative development including the 243,000 sq ft Republic scheme commences.
The Montreal Q1 2026 industrial market report by Savills analyzes the Greater Montreal Area's industrial real estate market, noting that the region experienced a second quarter of positive absorption in three years as the market shows recovery signs. The report identifies Amazon's departure from Quebec as a major factor that exacerbated rising vacancy by 0.7% of inventory, though vacancy increases have begun to slow at 180 basis points above the prior year as businesses resume leasing activity after pandemic and tariff-related decision delays.
Office-using employment in Quebec contracted 0.9% year over year as of February 2026, driven largely by declines in information, culture and recreation sectors. The Greater Montreal Area's office vacancy rate fell 50 basis points from the prior year to 17.0%, its lowest level since mid-2024, with Class A and transit-connected properties continuing to lead leasing activity.
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The Raleigh-Durham industrial market in Q4 2025 recorded average asking rents of $10.17 per square foot, up 0.9% year-over-year, with rent growth sustained despite rising vacancy supported by newer inventory and higher replacement costs. Vacancy increased to 6.4% in Q4 2025 from 6.1% one year prior, while year-to-date 2025 net absorption totaled 1.7 million square feet, up from 1.1 million square feet in 2024, as inventory growth continued to outpace demand.
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Orange County's office market totaled 1.3 million square feet in leasing activity during Q1 2026, with most deals in the 20,000 square feet range and activity concentrated in the Airport Area and Irvine Spectrum submarkets, representing leasing volumes aligned with historical first quarter averages of 1.0 to 1.3 million square feet over the prior three years. Tenant demand showed signs of stabilization as occupiers moved beyond a wait-and-see approach, with Irvine's return-to-office activity reaching a 70% recovery rate as of January 2026.
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Silicon Valley's office market recorded 1.5 million square feet of leasing activity in Q4 2025, declining from 2.3 million square feet in Q3 2025 due to a concentration of major tech deals in the prior quarter, though full-year 2025 leasing volume reached 7.0 million square feet, the highest post-pandemic level and a 26 percent increase from 2024. Future leasing momentum is expected to improve based on expansion plans from AI and tech tenants, including OpenAI's reported search for approximately 500,000 square feet in Mountain View.
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Savills commentary: UK holiday park sector enters 2026 with renewed confidence as 2025 deal volumes doubled YoY, led by established operators; pitch values stabilising.
Savills US analysis of how financial strain and shifting student demand are reshaping the higher-education landscape and its implications for student housing demand.

Quarterly Washington DC metro life sciences market report covering vacancy, leasing, rents and supply.

NYC life sciences vacancy declined modestly to 31.8% (from 33.7% in Q4 2024); over a quarter of inventory remains vacant.
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Chicago Q4 2025 life sciences market report on lab vacancy, leasing and rents in an emerging cluster.
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Boston-Cambridge vacancy up 860 bps YoY to 25.5%; 4.4M sq ft under construction, down from 8.3M a year earlier as the pipeline decelerates.
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Seattle Q4 2025 life sciences market report tracking lab vacancy, leasing activity and rent trends.
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San Diego vacancy up 61.6% YoY to 28.6%, driven by delivery of 3M+ sq ft of new life sciences space.

Savills Impacts examines how 'green' office standards vary by city - operational carbon, embodied carbon limits and climate resilience - across New York, Oslo, Singapore, Amsterdam and others.
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Bay Area Q1 2025 life sciences market: vacancy, leasing and rent trends across the region's lab clusters.

Savills Australia life sciences trends and outlook, covering demand drivers, lab/R&D supply and investment across Australian markets.
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San Diego Q1 2025 life sciences report tracking vacancy, leasing and rents in a softening lab market.

Savills UK update on holiday, residential and mobile home parks: pitch values by park type (residential parks ~£40,547/pitch), deal volume and demand trends across the land-lease park sector.

Review of European office occupier markets, with leasing activity supported by tight grade-A availability and a flight to quality across the major cities.

Quarterly analysis of European office investment, with prime yields stabilising and appetite for larger lot sizes returning as €200m+ deals rose to 24% of volumes.

Review of UK shopping centre and high street investment and occupier markets, with sound fundamentals, resilient prime schemes and rising H1 investment volumes.

Analysis of the recovering UK retail investment market, with steady institutional demand and improving sentiment as buyers respond to rental growth and relative stability.

Pan-European office market review showing prime yields compressing to 4.96% in Q2 2025, led by Madrid, Barcelona, Paris CBD and Amsterdam.

Monthly snapshot of UK commercial property investment activity, yields and sentiment across the office, industrial and retail sectors.

Savills reports 12.4 million square feet leased in Manhattan in Q1 2026, the strongest single quarter of leasing since Q4 2019.
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Savills reports the strongest U.S. office leasing quarter since 2019 at 61.2 million square feet, with overall availability falling to 23.1% as demand concentrates in best-in-class assets.

Savills reports San Francisco's strongest leasing quarter since 2014 at 3.8 million square feet in Q1 2026, driven largely by AI and advanced technology firms.
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The Philadelphia edition reviews local office leasing activity, availability and asking rents for the first quarter of 2026.
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The Washington, D.C. edition tracks local office leasing, availability and rents for the first quarter of 2026.

Savills reports first quarter 2026 take-up rose 11 percent in logistics and 6 percent in Central London offices year over year. Offices are the firm's most favoured 2026 investment pick on attractive relative pricing.
Savills reports the U.S. industrial market has stopped weakening and is beginning a slow, uneven transition toward recovery. The report covers supply, demand and pricing alongside ports, e-commerce and manufacturing demand drivers.

Savills tracks UK commercial investment activity and pricing across sectors. UK 2025 investment volume reached 54 billion pounds, 4 percent up on the prior year.
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Life sciences venture capital funding reached 20.8 billion dollars in the first half of 2025, equal to 44.9 percent of the 2024 total. High rents in Boston-Cambridge, the Bay Area and San Diego pushed companies toward lower-cost markets.