The Hague Office Market Dynamics, Q1 2026

Dublin Office Market Dynamics, Q1 2026

Dublin's office market recorded 377,000 square feet of take-up across 40 transactions in Q1 2026, representing 34% above the five-year Q1 average, with demand broadening across technology, financial services, insurance and professional services sectors. The total vacancy rate declined to 12.6% at end-Q1 2026 marking the fourth consecutive quarterly decline from a peak of 15.9% in Q1 2025, while the development pipeline fell to 1,490,000 square feet under construction, the lowest level since 2013–2014.

Dublin Capital Markets Market Dynamics, Q1 2026

Dublin's capital markets recorded €433.5 million in investment activity across 22 deals in Q1 2026, with geopolitical instability and volatile swap rates causing transaction delays, though deals that proceeded to signing faced no material concessions. International investors represented 73.4% of total volume at €318.4 million, and a single €212 million acquisition of Newmarket Yards by Singapore's sovereign wealth fund GIC accounted for nearly half of quarterly transacted volume.

Dublin Industrial Market Dynamics, Q1 2026

Dublin's industrial and logistics market recorded 524,083 sq ft of take-up across 25 transactions in Q1 2026, representing a 45% decline from Q4 2025, with prime rents for larger units ranging from €13.25 to €15.00 per sq ft and smaller well-located units achieving €18.00 to €20.00 per sq ft. The market maintains a constrained supply environment with an estimated vacancy rate of 3.5% to 4% and over 799,000 sq ft of reserved space from the prior quarter in advanced negotiation stages.

Marketbeat Portugal Industrial Q1 2026 (Greater Porto)

The Marketbeat Portugal Industrial Q1 2026 report for Greater Porto covers demand, vacancy, rents, and development trends in Portugal's industrial and logistics sector, reporting 13 new occupancy deals totaling 65,110 square meters (a 16% year-on-year decrease), vacancy in Greater Lisbon at 4.3%, and prime rents rising to €6.00 per square meter per month in the Port of Leixões–Airport area. The report notes Portugal's GDP growth of 2.3% in Q1 2026, a substantial pipeline of 762,600 square meters scheduled for completion over the next three years with 394,000 square meters already under construction, and sustained occupier demand despite supply constraints.

Rome Office Market Dynamics, Q1 2026

Rome's office leasing market recorded take-up of over 36,000 sq. m. in Q1 2026, representing 49% growth compared to Q1 2025, while prime rents remained stable at €610/sq. m./year. The investment market attracted €330 million in Q1 2026, comprising 48% of total office investment volume, with the prime CBD yield compressing 25 basis points to 4.5%.

Marketbeat Porto Office Q1 2026

The Greater Porto office market recorded 7,150 square meters of leasing activity across 17 deals in Q1 2026, representing a 67% year-on-year increase, with the TMT & Utilities sector driving 73% of demand and Zone 3 (ZEP) capturing over 60% of take-up. The overall vacancy rate tightened marginally to 8.7%, prime rents remained stable across submarkets ranging from €17.00 to €21.00 per square meter per month, and an estimated 116,800 square meters of new office supply is forecast over the next three years with approximately 91,500 square meters already under construction.

Porto Office Market Dynamics, Q1 2026

Porto's office market recorded 6,140 square meters of take-up in Q1 2026, representing a 43% year-on-year increase, though activity remained below the three-year quarterly average, with the largest transaction being a 2,230 square meter letting to an IT company. The underlying market condition is characterized by a shortage of modern, high-quality office space constraining occupier options, though several projects in development are expected to gradually ease this supply constraint.

Lisbon Office Market Dynamics, Q1 2026

Lisbon's office market in Q1 2026 recorded 28,910 square meters of take-up, representing an 80% year-on-year increase driven by ten deals exceeding 1,000 square meters. Prime CBD office rents reached €32.00 per square meter per month, reflecting continued flight-to-quality dynamics, while occupier confidence in best-in-class assets remained strong despite macroeconomic headwinds.

Milan Office Market Dynamics, Q1 2026

In Q1 2026, Milan's office leasing market recorded approximately 66,000 square meters of take-up plus 4,000 square meters in subleasing activity, with demand remaining robust and Grade A absorption accounting for 65% of total volume. Office investment in Milan totaled €260 million during the quarter, primarily driven by value-add repositioning strategies, while core assets in the CBD remained the primary focus for private investors, and Grade A vacancy held at approximately 3.6%.

ReView Office Markets Rome - Q1 2026

Rome's office occupier market showed positive momentum in Q1 2026, with take-up increasing 11% year-on-year to 34,600 square meters, though the number of deals fell 30% to 23 transactions, and Grade A space represented 57% of activity. Prime office rents stabilized at €600 per square meter in the CBD with a 4% year-on-year increase, while the overall vacancy rate stood at 7.6%, down 30 basis points annually, with particularly tight availability in prime locations and the CBD at just 1.1%.

Italy Capital Markets Market Dynamics, Q1 2026 (Milan office yields breakout)

In Q1 2026, Italy's real estate investment market totaled approximately €3.5 billion with international investors representing over 60% of volume, while retail and hospitality led by asset destination and private wealth investors concentrated over €400 million in the office sector. Prime office yields remained stable in Milan at 4.0% and compressed in Rome to 4.5%, with other assets ranging from 4.5% for multifamily to 7.0% for retail parks.

Amsterdam Office Market Dynamics, Q1 2026

Portugal Industrial Market Dynamics, Q1 2026 (Greater Lisbon)

Portugal's industrial logistics market recorded a take-up of 65,100 square meters in Q1 2026, with the Lisbon region representing 37% of activity, as geopolitical conflicts dampened market sentiment. Prime rents in Lisbon reached €7.00 per square meter per month in leading assets due to persistent supply shortages, while near-shoring and supply chain resilience strategies are expected to sustain demand for modern logistics space.

Belgium Retail MarketBeat Q4 2025

Belgium's retail market achieved 562,000 square meters of take-up in 2025 across 1,049 transactions, outperforming the ten-year average by approximately 30 percent, while investment volume reached €2.155 billion, well above historical averages. The broader Belgian economy showed slow but steady growth of 1.02 percent in 2025 with inflation at 2.2 percent, stable financing conditions, and an unemployment rate of 6.15 percent, supporting expectations for modest continued growth around 1 percent in 2026 with prime high street rents rising to €1,750 per square meter annually and shopping centre prime yields at 6.00 percent.

Lisbon 2025 Grade A Office Market - Five years to change the game

Lisbon's office market is undergoing a transformation driven by occupier demand for high-specification, sustainable buildings, yet only 15-20% of the city's total office stock currently meets Grade A standards, creating a significant supply-demand mismatch. European Grade A office development completions are expected to rise to 4.3 million square meters in 2025 but fall sharply to 3.1 million square meters in 2026, the lowest level since 2017, while speculative development has halved to just 1.6% of stock, with most new schemes pre-let prior to completion, intensifying competition for prime space and putting upward pressure on rents.

Dutch Office Market Report 2026 - Amsterdam (full-year 2025)

Amsterdam's office market recorded solid leasing activity in 2025 with take-up reaching approximately 210,000 sq m, driven primarily by the South Axis and city centre where occupiers sought prime, ESG-compliant buildings. Investment volumes in Amsterdam totalled approximately EUR 651 million in 2025, the highest among Dutch cities, with prime gross initial yields standing at 5.25% and improved financing conditions attracting family offices and domestic capital.

Marketbeat Porto Office Q4 2025

The Cushman & Wakefield report covers the Greater Porto office market in Q4 2025, showing a 43% year-on-year drop in annual take-up to 43,700 sq.m, a vacancy rate of 8.8%, and stable prime rents at €21.00 per sq.m per month in the CBD Boavista submarket. Portuguese GDP grew 1.9% in 2025 with acceleration to 2.3% forecast for 2026, while the market pipeline contains 98,580 sq.m under construction with 32% pre-occupied and 119,880 sq.m projected completions within three years.

Ireland Investment MarketBeat, Q4 2025

Irish real estate investment reached €2.4 billion in 2025, approximately €800 million in Q4 2025, with retail leading at 30% of transactions by value, followed by office at 27% and the living sector emerging as the third largest sector. Key Q4 deals included Jervis Shopping Centre (€110 million), Project Galaxy student accommodation (€104 million), and Newmarket Square residential (€75 million), while economic indicators showed GDP growth forecast at 1.0% for 2026 and unemployment at 4.8%.

Ireland Retail MarketBeat, Q4 2025

In Q4 2025, Ireland's retail investment market recorded €210.5 million across 9 deals with an average deal size of €23.4 million, down 29% from 2024's €733.4 million in 33 deals, with major transactions including the €110 million sale of Jervis Shopping Centre to Pradera and the €36 million LIDL portfolio sale to ICG. High street prime rental growth reached +1.0%, retail warehouse rental growth +11.4%, and shopping centre rental growth +4.0%, while consumer sentiment declined 17.2% year-on-year but showed signs of improvement in Q4, supported by low unemployment at 5%, average weekly earnings growth of 4.9%, and household deposits of €161 billion.

Marketbeat Portugal Industrial Q4 2025 (Greater Porto)

Cushman & Wakefield's Industrial Q4 2025 report on Portugal documents full-year 2025 take-up of 484,970 square meters in the industrial and logistics sector, representing a 39% year-on-year decrease, with Greater Lisbon commanding 56% of activity and prime rents increasing to €5.65 per square meter per month in Greater Lisbon and €5.90 in Greater Porto. The report projects Portuguese GDP growth to accelerate to 2.3% in 2026 from 1.9% in 2025, notes a 4.1% vacancy rate in Greater Lisbon evidencing supply constraints, and identifies 758,500 square meters of logistics projects planned over the next three years with 449,900 square meters already under construction.

Dutch Logistics Market Report 2026 (Amsterdam/Schiphol, full-year 2025)

The Dutch Logistics Market Report 2026 covers investment and occupier market trends, assessing supply and demand, pricing, and future market prospects in Dutch logistics real estate. The report finds that the Dutch logistics investment market stabilized in 2025 with total investment volume of approximately €3.1 billion, while core transaction activity increased as investor appetite shifted toward stabilizing yields, vacancy rose to approximately 4.50% concentrated in older stock, and rental growth remained positive but moderated compared to prior years, with prime net initial yield for Tier 1 assets at around 4.60%.

Italy Investment MarketBeat Q4 2025 (Milan capital markets breakout)

Italy's real estate investment market recorded €4.63 billion in fourth-quarter 2025 sales volume, a 31% year-on-year increase, with retail leading at 25% of quarterly volumes followed by industrial & logistics at 21%, while full-year 2025 totaled €12.5 billion marking a 23% annual increase and confirming market recovery. Foreign investors contributed 58% of total capital, retail achieved €3.5 billion in full-year investment with major transactions including a €420 million Carrefour portfolio acquisition, and office investment reached €1.63 billion for the year despite remaining 17% below 2024 levels and 41% below the five-year average.

MarketBeat - Milan Office Q4 2025 (Italy Office MarketBeat)

Cushman & Wakefield's Milan Office MarketBeat for Q4 2025 reports that Milan's office market recorded 118,000 sqm of take-up in the quarter (up 5% year-on-year) and 376,000 sqm for the full year 2025, with a 10.8% vacancy rate and prime rent of €800/sqm/year across all property classes. Milan accounted for approximately 66% of Italy's national office investment volumes, reaching 1.1 billion euros for 2025, though investment remained below five-year averages; the market showed renewed investor confidence with Grade A availability at historic lows below 2% in central submarkets, supporting further rental growth despite limited supply.

Lisbon Residential Market Insight 2026

Lisbon's residential market has shifted from primarily investment-driven demand to lifestyle-focused appeal, with prime prices rising 2.7% in 2025 and forecast to increase another 4.5% in 2026, supported by tight supply of around 2,000 new homes delivered annually, €3.9 billion in foreign direct investment in 2025, and broadening buyer diversity from the US, France, Brazil, and China. Secondary segments including Comporta and Cascais are gaining prominence as international buyers prioritize long-term positions, rental income potential, and infrastructure development, while policy tightening around the Golden Visa and NHR schemes has not deterred demand sustained by visa channels including D2 and D7 permits, with over 386,000 residence permits issued by October 2025.

High Street Retail Report Lisbon and Porto 2025

Cushman & Wakefield's 2025 High Street Retail Report analyzes the high street retail markets of Lisbon and Porto, examining supply, demand, luxury and premium segments, and prime rental levels across both Portuguese cities. The report finds that 2024 marked growth in high street retail driven by increased demand from national and international brands seeking avant-garde, technological, and sustainable concepts, though limited retail space supply constrained expansion, particularly in prime luxury locations such as Avenida da Liberdade in Lisbon and Avenida dos Aliados in Porto, with the food and beverage sector being the most prominent among new occupancies.

Italy Logistics & Industrial MarketBeat Q4 2025 (Milan market breakout)

Italy's logistics market recorded Q4 2025 take-up of approximately 840,000 sqm, representing a 56% increase above the quarterly average since early 2024 and a 40% increase year-over-year, driven by returning medium and large-scale transactions primarily from 3PL operators and fashion retailers. Investment volumes in industrial and logistics reached approximately €960 million in Q4 2025, more than double the previous quarter, bringing year-to-date investment to €2.17 billion (a 21% increase versus 2024), while the vacancy rate stood at 6.6% and prime rents maintained €70/sqm/year in Milan and Rome with prime yields compressing to 5.25%.

Belgian commercial real estate 2025 review

JLL's 2025 review of Belgian commercial real estate documents major trends across offices, industrial and logistics, retail, and investment markets, with take-up in offices exceeding 360,000 m² (70% in Grade A buildings) while vacancy in Greater Brussels remained at 7.8% and rental values reached a record €193/m²/year on average. The investment market reached approximately 4.3 billion euros by early December, with industrial real estate recording an absolute record of 1.3 billion euros and Ultra High Net Worth private investors accounting for nearly a quarter of total volume, while the 2026 outlook remains cautious due to economic uncertainties and geopolitical conditions.

Brussels Office Market - REaltime Q4 2025 (Dashboard)

The document presents real-time Q4 2025 data on the Brussels office market, covering stock, vacancy rates, take-up, rental values, and investment yields across seven geographic zones including the CBD, decentralized areas, and periphery. Key findings include total market stock of 13.25 million square meters, overall vacancy at 7.70 percent, Q4 take-up of 121,000 square meters, and prime headline rent ranging from 185 to 400 euros per annum depending on location, with prime yields on 6/9-year leases at 5.25 percent.

Brussels Office MarketBeat Q4 2025

Brussels office market take-up reached 341,000 square meters across 315 transactions in 2025, broadly in line with the previous year but 9% below the ten-year average, with Q4 particularly strong at approximately 140,000 square meters driven by the European Commission's 20,000 square meter deal. Investment volume totaled €914 million across 24 transactions in 2025, nearly 50% below the ten-year average, while prime CBD rents remained stable within the €370–390 per square meter per year range and overall office vacancy rose slightly to 9.25% by year end.

Italy Retail MarketBeat Q4 2025 (Milan high-street breakout)

Cushman & Wakefield's Italy Retail Q4 2025 MarketBeat report examines the Italian retail real estate market, finding that Q4 2025 volumes reached €1.2 billion, bringing full-year investment to €3.5 billion with retail as the top-performing sector, while prime rents remained broadly stable with Milan at €20,000 per square meter annually and Rome at €16,000, and prime yields are expected to compress over 2026. The report notes Italy's economy showed weak but resilient growth of 0.5–0.6% for full-year 2025, with inflation easing to around 1.1–1.2% and an unemployment rate of 5.9%, while occupier demand remained strong in prime locations with brands including Mizuno, Champion, and Normal opening flagships, and the 2026 Milano-Cortina Winter Olympics stimulating retailer activity in mountain destinations.

ReView Office Markets Rome - Q4 2025

Rome's office occupier market experienced a quiet year in 2025 with take-up of 144,600 sqm, down 19% year-on-year, and 113 total deals closed (down 20% year-on-year), driven partly by the largest transaction of the year exceeding 25,000 sqm in Q4. Prime office rent in the CBD reached €600 per square meter with 4% growth compared to Q4 2024, while Grade A/A+ space accounted for 71% of take-up in Q1-Q3 2025, and the overall vacancy rate stood at 7.8% (down 10 basis points year-on-year), with particularly tight availability in the CBD at 1.2%.

Ireland Industrial and Logistics MarketBeat, Q4 2025

Ireland's industrial and logistics market achieved approximately 80,100 square metres of national take-up in Q4 2025, bringing the full-year total to 326,400 square metres—an 83% increase over 2024—driven primarily by Dublin where take-up more than doubled. Prime Dublin rents rose 6% in 2025 to €149 per square metre with further growth forecasted, vacancy remained tight at 3.6% nationally, investment volumes reached €100 million in Q4 led by the €61 million Northgate portfolio sale, and the sector delivered an 8.4% total return based on MSCI data despite moderating but resilient global trade conditions and Ireland's solid domestic economic performance.

Dublin Office MarketBeat, Q4 2025

Dublin office market take-up in 2025 reached approximately 253,200 square metres, the strongest performance since 2019, with Q4 specifically accounting for 67,800 square metres across 69 deals, while the CBD availability ratio improved to 13.7% by Q4 2025, the lowest in two years. The future development pipeline for 2026 and 2027 combined stands at only 146,000 square metres with approximately 64% already pre-let or reserved, significantly below the market's historical average annual take-up of over 202,000 square metres per annum.

Ireland Real Estate Market Outlook 2026

Brussels Office MarketView Q4 2025

Italy Retail MarketBeat Q3 2025 (incl. Rome prime high street)

Italy's retail market in Q3 2025 showed cautious stability with GDP growth of 0.4% year-on-year, unemployment near 6%, and inflation at 2%, while prime rents remained flat in Milan (€20,000/sqm/year) and Rome (€16,000/sqm/year), with strong investor demand driving retail investment activity to approximately €1.1 billion in the quarter. Shopping center yields compressed by 25 basis points to 6.75%, and retailers including Lululemon, Alo Yoga, and Autry opened new locations in prime high-street areas, with further yield compression expected through late 2025 and into 2026 amid improving credit conditions and recovering retail turnover.

Ireland Investment MarketBeat, Q3 2025

Irish investment spending reached approximately €699 million in Q3 2025, up from Q2 and 18% stronger than the prior twelve months, with the living sector comprising €260 million (led by Ardstone's acquisitions of Spencer Place and Birchwood Court) and the office sector accounting for €247 million across 12 transactions. Economic indicators for 2025 forecast GDP growth of 10.8% and personal consumption of 2.9%, while the sector breakdown shows residential representing 37% of investment volumes, office 35%, retail 14%, and industrial 13%.

Industrial & Logistics Market Overview Portugal Q3 2025 (Lisbon)

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.

Italy Logistics & Industrial MarketBeat Q3 2025 (Milan market breakout)

Italy's logistics market recorded approximately 600,000 sqm of take-up in Q3 2025, a 24% increase from the previous two quarters, with the vacancy rate at 6.9% gradually rising due to recently completed speculative projects. Industrial and logistics investment volumes rebounded strongly to around 400 €Mn in Q3 (up 167% from Q2), while prime rents remained stable at €70/sqm per year in Milan and Rome with yields holding at 5.50%.

Dublin Industrial and Logistics Market - Q3 2025

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.

Ireland Retail MarketBeat, Q3 2025

Cushman & Wakefield's Q3 2025 Ireland retail report documents €94 million in transaction volume across 9 deals—a 41% decline from Q2 and 65% decline year-over-year—with major sales including The Arena Centre (€33 million), car showrooms in Swords (€24.5 million), and Nutgrove Retail Centre (€11.9 million), concentrated primarily in Dublin. Prime high street rental growth slowed to +0.2% year-over-year, while retail warehouse rentals grew 9.2% and shopping centre rentals 1.8%, supported by modest improvements in consumer sentiment (61.7 in September, though below the long-run average of 83.8) and retail sales volume growth of 3.5%.

Italy Investment MarketBeat Q3 2025 (Milan capital markets breakout)

Italy's commercial real estate investment market recorded 2.41 €Bn in total volume during Q3 2025, representing a 31% decline from Q3 2024 but remaining stable relative to the five-year average of 2.38 €Bn, with retail leading at 45% of investment activity while year-to-date volumes reached 7.7 €Bn marking a 20% increase from the same 2024 period. The Italian economy showed cautious stability with GDP growth of 0.45% year-on-year, unemployment near 6%, and inflation around 2%, while foreign investors accounted for 53% of Q3 investment with capital flows directed primarily toward retail and industrial sectors.

Dublin Living Market Report - H1 2025

Ireland's residential investment market contracted significantly following 2022 interest rate hikes and rental regulations, with total investment reaching €481 million in 2024 (10.8% above 2023 but 56% below the ten-year average) and only €10 million deployed in Q1 2025. Dublin apartment completions are projected to decline 40% from 2023 peaks and 17.8% from 2024 levels in 2025, falling far short of the estimated annual requirement of 19,600 to 36,400 units, though analysts expect modest recovery in 2026–2027 supported by government rental sector reforms announced in June 2025 and favorable economic fundamentals including 4% unemployment and a young population demographic.

Belgium Retail MarketView H1 2025

Italy Retail MarketBeat Q2 2025 (Milan prime rents breakout)

Cushman & Wakefield's Italy Retail Q2 2025 MarketBeat report covers the Italian retail property market, documenting prime rents (Milan €20,000/sqm/yr, Rome €16,000/sqm/yr, shopping centers €1,200/sqm/yr) and yields alongside macroeconomic conditions including 0.5% GDP growth and 5.90% unemployment. Investment activity increased 16% quarter-over-quarter to €670 million in Q2, bringing H1 2025 to €1.240 billion and doubling H1 2024 volumes, while occupier demand strengthened with new entries from sportswear and lifestyle brands (Lululemon, Alo Yoga, Autry) driven partly by anticipation of the 2026 Milano-Cortina Winter Olympics.

A first half of contrasts for Belgian real estate (H1 2025)

JLL's H1 2025 review of Belgian commercial real estate reports approximately €1.6 billion in total transaction volume, with industrial real estate reaching €768 million (nearly half the total), office investment at €216 million (the lowest since 2012), and retail at €346 million, while industrial vacancy remains below 3% nationally but occupier demand has weakened across most segments. The document projects 2025 will become the most successful year ever for Belgian industrial real estate investment due to major transactions including the €300 million Weerts portfolio sale to Intervest, while office sector remains subdued despite strong rental rates in Brussels (€400/sq m/year) and office take-up concentrating 75% in Grade A buildings.

Brussels Office MarketView Q2 2025

MarketBeat - Milan Office Q1 2025 (Italy Office MarketBeat)

Milan's office market recorded 102,000 square meters of absorption in Q1 2025 with a 9.8% vacancy rate and €750/sqm/year prime rent, driven by strong Grade A demand representing 87% of quarterly volume, particularly from legal and IT sectors. Foreign capital accounted for 40% of the €410 million investment volume, with the two largest CBD transactions representing 43% of total investment activity and prime yields holding steady at 4.25% despite a 3% increase in prime rents over the quarter.

Marché des locaux d'activités — Lyon T1 2026

The Bouches-du-Rhône industrial property market posted 33,800 square meters of placed space in Q1 2026, up 23% year-over-year, with transaction volume increasing 52% and average deal size rising to 890 square meters. Available supply contracted 22% to 69,400 square meters as the market shifted back to undersupply conditions. The Lyon region saw placed demand reach 64,000 square meters in Q1 2026, up 11% from a year earlier, though transaction count fell 20% as demand concentrated in larger properties above 1,000 square meters.

Étude de marché Lyon — 1er trimestre 2026 (bureaux)

Marché locatif de l'immobilier logistique en France, T1 2026

In the first quarter of 2026, 333,000 square meters of warehouses exceeding 5,000 square meters were exchanged in France, representing a 67 percent decline year-over-year, driven by widespread economic uncertainty stemming from geopolitical turbulence, macroeconomic concerns, and regulatory changes. Prime rents increased slightly year-over-year across most markets, reaching €89 per square meter annually in Île-de-France and €71 in Lyon, with 58 percent of trading volume occurring outside the Dorsale corridor, including 67,000 square meters in Centre-Val de Loire.

Marche locatif bureaux a Marseille, T1 2026

JLL's Q1 2026 study analyzes the office rental market in Marseille, finding that demand fell 36 percent year-over-year to approximately 21,400 square meters commercialized, with 64 lease signatures 28 percent below the five-year average. Available immediate supply increased 23 percent to 218,150 square meters (21 percent in new or regenerated assets), while prime rental rates remained stable at 320 euros per square meter annually in Marseille, 250 euros in Aix-en-Provence city center, and 195 euros in its business park.

Marche des Bureaux Aix-Marseille T1 2026 (MarketBeat)

The document analyzes the office real estate market in the Aix-Marseille metropolitan area for the first quarter of 2026, covering supply, demand, and transaction activity across the region's office sector. Key findings show the rental market contracted sharply with 21,400 square meters commercialized (down 36% year-over-year), though immediate supply reached 239,400 square meters with moderate vacancy rates of 3.95% in Marseille and 2.96% in Aix-en-Provence, reflecting persistent structural market tensions and a shortage of new office space.

Marché locatif bureaux en Ile-de-France, T1 2026

In the second quarter of 2026, 389,300 square meters of office space were marketed in Île-de-France, bringing placed demand to 750,000 square meters for the first half of the year, down 5 percent annually and 18 percent below the five-year average. Prime rents in the region showed resilience but were accompanied by elevated support measures, with the prime rent for the QCA reaching €1,240 per square meter annually, while available supply reached 6.57 million square meters at the end of Q2 2026, up 10 percent year-over-year.

Snapshot Retail MAD & BCN, Q1 2026

MarketBeat Lisbon Office Q1 2026

The MarketBeat Lisbon Office Q1 2026 report by Cushman & Wakefield covers demand, vacancy, rents, and development trends in the Greater Lisbon office market, finding that leasing activity increased 80% year-over-year to 28,910 square metres across 39 deals, the overall vacancy rate declined to 6.8%, prime rents remained stable except in New Office Areas where they rose to €22.00/sq.m/month, and six new buildings added 41,750 square metres with 286,050 square metres scheduled for delivery over the next three years. The TMT & Utilities sector drove 32% of quarterly demand, and Portugal's economy grew 2.3% in the first quarter, outperforming the Euro Area average.

Marché de l'investissement résidentiel en France, T1 2026

Residential real estate investment in France totaled 703 million euros in the first quarter of 2026, representing a 20 percent decline from 882 million euros in the first quarter of 2025, driven by a significant reduction in transaction volume (43 versus 73 transactions) and the absence of portfolio investments. Foreign investors maintained a 22 percent market share in the quarter but were highly selective, focusing their investments exclusively on Paris and Hauts-de-Seine.

MarketBeat Bureaux Lyon T1 2026 — Immobilier d'entreprise à Lyon : point marché bureaux

The document analyzes office real estate activity in Lyon and its periphery during the first quarter of 2026, examining supply, placed demand, and transactions across market segments. Key findings show Lyon's office rental market experienced its weakest performance since 2014 with only 31,300 m² leased (a 48% decline versus the ten-year first-quarter average), while immediate supply increased 10% year-over-year to 635,800 m² and the overall vacancy rate reached 8.06%, with several central sectors exceeding 10% vacancy.

REview Bureaux Île-de-France - T1 2026

Office demand in Île-de-France reached 367,400 square meters in the first quarter of 2026, representing a 15 percent decline year-over-year and an 18 percent decrease compared to the five-year average. The market environment remained constrained, characterized by increased user hesitancy driven by economic uncertainties.