Gradual recovery in 2021. Despite the reduction seen in transactional activity over Q1, there were some signs that offer a glimpse of recovery in the occupier market over 2021. Q2 appears to have been the long-awaited moment, enabling H1 2021 figures to post a +14% year-on-year increase in take-up (vs H1 2020) with 765,600 sq m.
Of course, this performance also needs to be considered against the 10-year average which stands at 1.03 million, but the uptick in businesses moving ahead with transactions bodes well for 2021 being a transition year with a take-up volume that could reach 1.5 to 1.7 million sq m (vs 1.4 million in 2020).
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