According to Savills latest research, European office take up increased by 8% year-on-year in H1 2025.
This was led by the professional and business services sector which accounted for 26% of take-up, rising from 24% in H1 2024. The international real estate advisor says that this is reflective of the sector’s resilience, particularly among expanding counter-cyclical occupiers such as legal firms and accountancy companies.
Several European markets registered pronounced growth in professional and business services activity. Frankfurt saw a significant surge, with the sector’s share climbing from 21% to 32%, underpinned by KPMG’s 37,760 sq m lease. Amsterdam led in proportional terms, with the sector comprising 47% of total take-up, bolstered by UWV’s 44,000 sq m commitment at Bright Offices in Q2. Professional services in Paris CBD also outperformed historical norms, with the sector capturing 25% of leasing activity, more than double its five-year average of 12%, underscoring a renewed confidence in prime urban locations.
Banking, insurance, and finance was the second most active sector, contributing 20% of total European office take-up volumes. Although this marks a slight dip from 22% in H1 2024, the sector remains well above its 2020 benchmark of 16%, signalling sustained momentum, supported by corporates’ office attendance mandates.
Mike Barnes, Director in Savills European commercial research team, says: “Prime vacancy rates across the core European office markets are around the 3% mark. Average European prime office rents rose by 6.1% year-on-year during Q2 2025 and development pipelines remain tight, as we approach a 10-year low for new office deliveries. For smaller lot sizes in non-prime buildings, landlords are fitting out to a Cat B standard in order to improve lettability.”
Christina Sigliano, EMEA Head of Global Occupier Services at Savills, comments: “Clearly location has become more important as occupiers shift to more central areas with better connectivity. Similarly, occupiers seek better quality office stock in these locations to reduce their carbon emissions and to attract and retain employees. Occupiers are less willing to sacrifice either of these two factors than they were previously, with more companies competing for less prime space.”
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