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What do vacancy rates tell us about office rental prospects?

At the start of the recession, office vacancy rates across Europe varied hugely. Yet, however tempting it may have been to assume that rental values in markets with the lowest vacancy rates were better protected from the downturn, the past 12-18 months has shown that logic to be flawed. In short, a simple snapshot of the latest vacancy rate is not a reliable guide to rental value prospects.

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