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JLL's Q1 2026 Birmingham Office Market Dynamics report covers leasing activity, rental rates, and vacancy levels in the Birmingham office market during the first quarter of 2026. The report states that 106,700 square feet transacted in Q1 2026, prime rents rose to £52.00 per square foot, overall vacancy increased to 9.9% while Grade A vacancy remained tight at 4.6%, and space under construction declined as completions exceeded new starts.

Manchester's office market recorded 286,200 square feet of take-up in Q1 2026, with the Government Property Agency accounting for the largest transaction at 114,967 square feet. Total vacancy stood at 10.9% at quarter-end, comprising Grade A vacancy of 5.1% and new build vacancy of 1.9%, while prime city centre rents remained stable at £45.00 per square foot.

The JLL Q1 2026 report analyzes Central London's office real estate market, finding that leasing activity remained strong due to increased pre-letting and engagement from technology, media, and telecommunications occupiers. Overall supply tightened and vacancy declined, particularly in new-build stock, while investment activity moderated with lower volumes compared to previous benchmarks.

In the first quarter of 2026, approximately €420 million was invested in Berlin's commercial real estate market, representing a 57% decline compared to Q1 2025, with Berlin ranking second among the top seven German cities. Net prime yields increased across asset classes during the twelve-month period, rising to 4.35% for offices, 3.95% for high street retail, and 4.50% for logistics properties, while investor interest remained strong despite challenging economic conditions and delayed transaction timelines due to financing adjustments.

Edinburgh's office market recorded 142,300 square feet of take-up in Q1 2026, with professional services as the largest activity sector, and overall vacancy stood at 7.4% at quarter-end. Prime rents reached £49.50 per square foot with 514,200 square feet under construction, of which 54.0% was pre-leased, and forecasts anticipated further rent increases during the remainder of the year.

The Leeds office market recorded 34,300 square feet of take-up in Q1 2026 with a total vacancy rate of 7.2%, while the development pipeline contained 322,000 square feet under construction with 33.0% preleased. Prime rents are expected to remain under pressure as quality space becomes scarce, though demand is anticipated to build over the coming quarters with significant lease activity expected in 2027.

This is a market report on the office sector in Munich published by BNP Paribas Real Estate in the first quarter of 2026. The report covers office market conditions and activity in Munich, Germany.

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.

The report analyzes Berlin's office market in Q4 2025, finding overall take-up of around 486,000 sqm representing a 16% decline year-over-year, though smaller and medium-sized deals increased 17% while larger contracts above 5,000 sqm fell significantly by 71%. Prime rents in Berlin increased 4% to €47 per square meter, with Mitte, Charlottenburg/Tiergarten, and Kreuzberg/Neukölln as leading markets by take-up, and location quality remaining the primary driver of leasing decisions across the city.

This is a market report published by Savills in Q4 2025 covering the logistics sector in London and the South East of England.

This is a market report published by Knight Frank at the end of 2025 covering the Central London retail sector. The dashboard presents data and market conditions for the fourth quarter of 2025.

Frankfurt's office market achieved take-up of 611,000 square meters in 2025, representing a 53.5% increase year-over-year and the first time the market exceeded 600,000 square meters since 2019, making it Germany's strongest office market. Prime rents rose 10.2% to €54.00 per square meter while average rents increased 28% to €30.20 per square meter, driven by strong demand from banks, financial services, and consulting firms including major contracts with Commerzbank, ING-DiBa, and Allianz Global Investors, though vacant space increased 10.4% to 1.88 million square meters and the outlook for 2026 projects take-up above 500,000 square meters with prime rents approaching the €60 per square meter mark.

This is a market report published by Colliers on December 31, 2025, covering office leasing and investment activity in Munich, Germany during the fourth quarter of 2025.

Knight Frank's 2025 Scotland Report provides a cross-sector review of the Scottish commercial real estate market covering offices, manufacturing, and retail, finding that while leasing activity shows resilience particularly in major centers with concentrated demand for high-quality assets, legacy stock faces obsolescence risk and secondary properties struggle to attract investment unless significantly repriced. The report details that Edinburgh office take-up grew 62% in 2024 underpinned by a major HBOS lease of 282,000 square feet, Glasgow take-up rose 37%, and prime rents have increased notably with Edinburgh experiencing 30% growth since March 2020, though new development pipelines remain constrained with only 38,361 square feet of new space available in Edinburgh.

Knight Frank's Q4 2025 London Offices Spotlight provides a quarterly market snapshot showing that 2025 take-up reached 12.1 million square feet (8.2% above the long-term average), London vacancy fell to 8.6% and could drop to 7.6% if space under offer completes, and investment volumes achieved £3.3 billion in the best quarter since Q1 2022 with £3.1 billion further under offer. The report presents detailed metrics across London's office submarkets, including 23.0 million square feet of availability, 11.4 million square feet in active requirements, and 10.9 million square feet under speculative construction, alongside regional breakdowns for City & Southbank, Docklands & Stratford, and West End markets.

The Knight Frank Q4 2025 report analyzes investment, development, and occupational markets for South East and Greater London offices, documenting leasing volumes of 3.4 million square feet in 2025 (up 8% from 2024), with 356 deals completed at the highest annual total on record, and Grade A space accounting for 79% of take-up. Investment volumes reached £1.3 billion in 2025 (25% lower than 2024), with 112 deals completed and prime yields remaining at 7.00%, while the development pipeline remained limited at 1.9 million square feet under construction, with Cambridge and West London accounting for 61% of speculative space.

Central London office take-up totalled 2.88 million sq ft in Q4 2025, up 17% on the 10-year average with 72% classified as Grade A, while core Grade A supply is depleting at an alarming rate with the City Core and West End submarkets holding only 1.1 years and 0.7 years of Grade A supply respectively, well below the 10-year average of 1.7 years. Investment activity recovered significantly with £3.31 billion deployed in Q4 (up 95% quarter-on-quarter) and £9.76 billion of assets traded during 2025, a 61% increase on 2024, though construction costs and limited development pipeline are expected to require continued rental growth to support returns in the near term.

This is a market report published by CBRE on December 31, 2025, covering the logistics sector in Munich, Germany during the fourth quarter of 2025.
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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 JLL report covers Germany's housing market in the second half of 2025 across eight major cities (Berlin, Hamburg, Munich, Cologne, Frankfurt, Dusseldorf, Stuttgart, and Leipzig), analyzing rental and condominium price developments, construction activity, and supply-demand dynamics. Key findings include: rental growth in the Big-8 cities averaged +4.4 percent annually with significant variation by city (Hamburg +9.0 percent, Berlin +0.2 percent); condominium prices showed recovery with median growth of +2.9 percent in Munich and +5.3 percent in Dusseldorf; construction completions declined to preliminary lows of 251,900 units in 2024 and projected at 220,000–230,000 for 2025; and all analyzed cities face supply deficits ranging from 10 to 40 units per 10,000 inhabitants, with 2026 expected to mark the lowest completion point before recovery.

The BNP Paribas Real Estate Q4 2025 Investment Market Berlin report covers Berlin's real estate transaction volume of €3.25 billion, down 8.5% from the previous year but slightly exceeding the three-year average. The report notes that Berlin maintained its position as the leading A-location in Germany, with the largest transaction being the Upper West sale for over €400 million, and reports prime yields of 4.25% for offices, 3.85% for premium retail, and 4.50% for logistics properties.

Frankfurt's commercial real estate investment market recorded €770 million in transaction volume during 2025, a 52.6% decline from 2024, with no deals exceeding €100 million and a weakened office segment representing only 40% of investments compared to its long-term average of two-thirds. The document notes that a substantial pipeline of large-volume properties including Opernturm, Westend Duo, Trianon, and the Wave are in advanced negotiation stages, and forecasts a significant recovery in 2026 driven by strong office leasing fundamentals with 611,000 square meters of space concluded.

The Berlin logistics market recorded 425,000 square meters of take-up in 2025, representing a 55% increase compared to 2024, driven primarily by larger deals above 20,000 square meters which accounted for 35% of total take-up and by strong demand in central, inner-city locations. Prime rents for logistics space with unit sizes above 5,000 square meters rose to €8.25 per square meter, while significantly higher rents were achieved for smaller light industrial spaces within Berlin's city boundaries.

Total retail investment volumes in 2025 are forecast to reach £5.83 billion, down 17% on 2024 and 8% below the 10-year average, with underperformance driven primarily by a shortage of large-scale shopping centre availability in the first half and significant retail warehousing slowdown in the second half. All retail sub-sectors showed strong occupational performance in 2025 with declining vacancy rates (down to 13.5% nationally, the lowest since COVID), rental growth projected at 3.2% (the strongest since 2006), and shopping centres and foodstores emerging as top-performing asset classes alongside retail warehousing, with the sector forecast to deliver total returns of 9.5% in 2026.

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

Cushman & Wakefield's Q4 2025 MarketBeat report on Regional and South East office markets covers take-up, supply, rental values, and investment activity across the Big Five regional markets (Birmingham, Bristol, Edinburgh, Leeds, Manchester) and the South East, finding that 2025 saw 6.4 million sq ft of take-up (10% below 2024 and 13% below the five-year average) and £1,861.7 million in investment (the lowest annual total since 2012), with Q4 showing a 12% quarter-on-quarter increase in take-up driven by Grade A activity and a 10.8% vacancy rate. The report projects 2026 will see continued rental growth, persistent Grade A supply constraints, and increasing investment activity supported by easing interest rates and improving credit conditions, with momentum expected to build as occupier demand for high-quality space and flexibility intensifies.

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.

Knight Frank's 2025 review of the West Yorkshire and Humber logistics and industrial sector reports that occupier take-up rose 15% year-on-year to 2.4 million square feet, marking the third consecutive annual increase, with demand concentrated in units of 100,000 to 200,000 square feet and distribution firms accounting for 67% of activity. Prime industrial yields in Leeds remained stable at 5.25% throughout 2025, and investment activity strengthened in the second half of the year with notable transactions including LondonMetric's £17 million purchase of the Booker warehouse and M7 Real Estate's £49 million acquisition of West Yorkshire assets, though limited speculative development is creating a supply-demand imbalance expected to constrain activity through 2026.

Knight Frank's Q3 2025 quarterly review reports that investors committed over £3 billion to the UK Build to Rent market in the first nine months of 2025, with more than £850 million invested in Q3 alone, representing a 35% year-on-year increase across multifamily housing, single-family homes, and co-living sectors. The document notes that UK BTR completed stock surpassed 153,367 homes as of Q3 2025 (up 25% compared to Q3 2024), with an additional 54,354 homes under construction expected to bring the sector to over 200,000 operational homes within the next few years, though challenges including construction viability, planning delays, and Gateway approval processes are expected to result in falling completions in coming years.

Knight Frank's Q3 2025 UK Cities Office Market Review analyzes leasing, supply, investment, and rental trends across ten regional UK office markets including Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Manchester, Newcastle, and Sheffield. Key findings include leasing activity reaching 2.5 million square feet in the first half of 2025 with year-on-year growth, seven of ten cities recording rental increases as high as 20%, limited new and Grade A space availability at a 3.0% vacancy rate, investment volumes of £373.5 million in H1, and stable prime asset pricing at 6.50%.

Office take-up in the UK regional markets and South East totalled 1.44 million square feet in Q3 2025, representing a 5% increase from Q2 but remaining 14% below the five-year quarterly average, with Grade A space accounting for 72% of activity. Refurbishments comprised 66% of all space delivered in 2025 as new development slowly returned, with 3.4 million square feet under construction across regional markets and headline rents rising in four of the Big Five cities to levels including Bristol at £50 per square foot and Birmingham at £46 per square foot.

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%.

Berlin's office market recorded 362,000 sqm of take-up in the first three quarters of 2025, approximately 14% lower than the prior year, though demand in smaller segments up to 5,000 sqm reached 320,000 sqm, the highest level since 2019. Prime rents increased 2% in Q3 and 4% year-on-year to €47/sqm, with city zones accounting for 60% of take-up and holding 71% of under-construction space.

The Berlin logistics market recorded take-up of 320,000 sqm in Q3 2025, representing a 50% increase year-over-year and returning demand to positive territory after weakness in the prior year, though this figure is 11% below the long-term average when excluding the Tesla plant's outsized 2022 contribution. Rents show a two-tier market with inner-city smaller warehouses exceeding €10 per sqm due to high demand, while large-scale prime and average rents stabilized at €8.20 per sqm and €7.20 per sqm respectively on the city's outskirts.

Frankfurt's office market achieved 457,900 m² of take-up in the first three quarters of 2025, representing 77% growth over the five-year average and 30% above the full-year 2024 result, driven primarily by the Banking and Financial Sector's 151,000 m² contribution and anchored by Commerzbank's 73,000 m² lease of the Central Business Tower. The prime rent increased to €52.00/m²/month (up 7.2% year-over-year), the vacancy rate stood at 11.5%, and Cushman & Wakefield forecasts full-year take-up between 525,000 and 550,000 m² with no further prime rent growth expected by year-end.

Frankfurt's office market recorded 338,600 square meters of take-up in the first half of 2025, representing 86% growth compared to the prior year, with the vacancy rate at 11.1% and prime rent reaching €51.00 per square meter per month as of Q2 2025. The business climate index in Hesse improved to 95 points in early summer 2025, driven by a special government fund decision, though companies identified general economic conditions, domestic demand, and labor costs as primary risks to their development.

Knight Frank's H1 2025 Office Market Mid Year Review examines leasing, supply, investment, and rental trends across ten UK regional cities including Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Manchester, Newcastle, and Sheffield. The report finds that regional leasing activity reached 2.5 million square feet in the first half of 2025 (7% above H1 2024), seven of ten cities recorded year-on-year rental growth reaching as high as 20%, but investment volumes were subdued at £373.5 million and new grade A office space availability remained critically tight at 3.0% vacancy, creating intense competition for quality space.

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 Frankfurt logistics market achieved 251,000 square meters of total take-up in the first half of 2025, driven by a strong second quarter of 188,000 square meters that exceeded the ten-year average, with major deals including Eli Lilly's 50,000 square meter pharmaceutical production facility and large-volume transactions above 20,000 square meters representing 39.6 percent of activity. Prime rents remained stable at €8.20 per square meter and average rents at €7.00 per square meter, both showing year-over-year increases of 3.1 percent and 4.5 percent respectively, while the market faces ongoing supply shortages in high-demand areas despite the momentum in large-space leasing.

This is an overview of recent planning policy developments and... Read more The post Central London Planning Policy Update (Q4 2025 & Q1 2026) appeared first on Montagu Evans .

read in PDF format London’s residential development market remains severely... Read more The post The Residential Land Survey (2026) appeared first on Montagu Evans .

The global investment backdrop remains supportive for industrial, reinforcing its position as a preferred destination for capital. Investment volumes continue to run ahead of last year across the U.S., EMEA, and APAC, while fundraising remains concentrated in logistics. North America is capturing a larger share of…

Europe's hotel construction pipeline reached 1,731 projects comprising 255,354 rooms at Q1 2026, representing a 3% year-over-year increase, with the early planning stage hitting a record-high 604 projects and 86,128 rooms. The United Kingdom, Turkey, Germany, France, and Portugal account for 46% of projects in the region's pipeline, and Europe is forecast to see 319 new hotels with 44,156 rooms open by the end of 2026.

Europe's hotel construction pipeline stood at 1,731 projects comprising 255,354 rooms at the close of Q1 2026, representing a 3% year-over-year increase, with early planning stage projects reaching a record high of 604 projects/86,128 rooms. The report forecasts 319 new hotels with 44,156 rooms to open across Europe by year-end 2026, with the United Kingdom, Turkey, Germany, France, and Portugal accounting for 46% of the region's pipeline projects.

Principal's mid-year house view argues the CRE recovery remains intact but uneven, with high conviction in data centers and residential, caution on life sciences, and an increasingly global portfolio approach.

Principal's research on ODCE fund performance shows a selection-driven cycle, with top-quartile U.S. funds returning 5.9% annualized versus 0.1% for the bottom quartile and European funds leading on capital appreciation.

European residential market review, with investment reaching €12.0bn in Q1 2026, prices up 5.1% annually and rental growth accelerating to 3.9% year-on-year.
European hotel market review, with hotels reaching 11.4% of CRE investment in Q1 2026 and solid but uneven RevPAR growth across key markets.
Cross-asset European commercial real estate forecast, with investment moderating as stakeholders await price clarity and the Eurozone economy projected to grow 1.0% in 2026.
European logistics market review, with take-up up 10% across leading markets and 2.7% rental growth in Q1 2026 against a backdrop of cooling investor confidence.
Pan-European commercial real estate investment review, with total CRE volume down 7% year-on-year in Q1 2026 as recovery momentum slowed amid macroeconomic uncertainty.
Review of office activity across 18 major European markets, with take-up down 16% year-on-year to 1.67m sqm and widening rent gaps between prime and secondary locations.
Examines how AI and machine learning firms concentrate in the Bay Area, New York and London, with AI leasing remaining strong across San Francisco and Manhattan's AI leasing already surpassing all of 2025.

JLL finds the EMEA residential investment market facing declining new supply and affordability pressures, while larger deals and cross-border capital activity drive growth into 2026.

Knight Frank's flagship global corporate real estate research bringing data-led insight on the future direction of office occupancy, workplace strategy and corporate space requirements.

A thematic study of the office trends reshaping European capital markets, charting the sector's recovery and transformation across the continent's major business hubs.