Warsaw office rents close to bottoming out - JLL

As office rents in the Eurozone periphery continue to recover, in the CEE there is downward pressure in Warsaw, while Budapest and Prague are expected to have reached the bottom, according to a report published by JLL. Warsaw rent levels remain the highest among CEE cities, exceeding those in Budapest, Prague and Bucharest. Office vacancy in Warsaw has increased by 110 basis points during the third quarter of 2014 and is continuing to rise. Vacancy also increased significantly in The Hague (+180 bps), as well as Amsterdam and Milan (both +90 bps). In Moscow it rose by +70 bps due to high completions.