European office market vacancy rate drops to lowest level in seven years

According to Savills the average vacancy rate for the European office market was 9.37% in Q1 2015, which is the lowest level recorded since 2009. The firm predicts vacancy may soon fall to 2007/2008 levels of less than 9.0%.

Eri Mitsostergiou, head of European research at Savills, comments: “With...