Take-up of office space in Europe 2019-2022, by city
Most of the European cities ranked experienced an uptick in take-up in 2022, but Central London and Lisbon were the only markets where the take-up exceeded the levels prior to the pandemic. In 2020, the demand for offices plummeted, as the coronavirus led to many businesses transitioning to hybrid work. In Central Paris, the total take-up, which includes the volume of office space newly let, pre-let, sold, or pre-sold, fell from nearly 2.1 million square meters to 1.1 million square meters. In 2022, this figure increased to 1.9 million square meters.
