London's commercial real estate market experienced steady growth from 2013 to early 2014, with office rental prices rising moderately. Office rental prices in London increased by 4.0% in 2013, slower than the previous year but still outpacing other major global cities. According to a JLL report, London has the third largest commercial real estate market in the world based on capital value, behind only New York and Tokyo. The report also shows a varied picture for rental growth across different European cities, with some markets experiencing falling or bottoming out rents while rental growth is accelerating in other cities like Munich.

1. London’s
Review & Outlook

3. >
T
NS
MY
JER

5. 01
02
03
04
05

6. 01
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
-2.0%
-4.0%
-6.0%
-8.0%
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13

7. 02

9. 03

11. 04

13. 05
Ranking
City
US$bn
38.5
1
Paris
15.0
31.4
2
Los Angeles
13.4
18.4
3
Chicago
12.9
City
US$bn
London
New York
Tokyo
Ranking
City
US$bn
Ranking
4
Singpore
11.6
7
5
Shanghai
10.1
8
6
Washington DC
8.7
9
Seoul
7.5
10

14. THE JLL EUROPEAN OFFICE RENTAL CLOCK
Geneva
Amsterdam, Paris CBD, Warsaw
Helsinki, Lyon
Oslo, Stockholm, Stuttgart
Milan, Zurich
Berlin, Cologne, Dusseldorf
Copenhagen, Hamburg, Moscow
Istanbul, Luxembourg
St. Petersburg
Manchester
Rental Growth
Slowing
Rents
Falling
Rental Growth
Accelerating
Munich
Rents
Bottoming
Out
Athens, Lisbon
Budapest, Madrid, Rome
Barcelona, Dublin
Bucharest, Brussels, Edinburgh
Frankfurt, Kiev, Prague
Source: Jones Lang LaSalle

16. February 2014 LONDON’S WEST END: REVIEW AND OUTLOOK
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