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Whilst demand for office space in Q3 remained relatively stable in Rotterdam, take-up dropped compared to Q2 due to the absence of any large scale transactions which have boosted volumes in the first half of the year. Nevertheless, take-up in the first nine months of the year remains well above the levels recorded in 2009 and 2010. The upturn in activity seen in 2011 can, to some extent, be explained by the levelling in rental prices in some segments of the market (headline rents and/ or incentives) between the wider Rotterdam region and some smaller, more regional cities; in recent quarters there have been a number of occupiers moving from regional cities to Rotterdam which has become more affordable.
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01 December 2011