Report's key takeaways

• General inflation increased in Q1 to 3.18% Core inflation continued its overall downward trend.
• Take-up volume at 49,700 m² was low and approximately 60% of a typical first quarter.
• Prime rents remained stable at 375 €/m²/year. Notable developments, however, are putting pressure on the prime rents in various submarkets.
• Vacancy increased to 7.46%, mainly driven by availability in grade C office buildings.
• Development volume was high with the completion of the ZIN project. The 2024 outlook includes a substantial pipeline.
• Core office investment activity was absent in Q1. Some conversion and opportunistic deals were closed.