ICT steps up share of office space in Europe – Savills

The information, communications and technology sector and professional services sectors were the two most active business segments in terms of take-up of offices in Europe during the first half of the year, according to Savills.

Although Savills said office take up fell 32% overall to 4.1 million sq m, its research indicates that ICT and professional services each had a 21% share of take-up across the cities that it tracks.

ICT has increased its share from 17% and 16% in 2018 and 2019 respectively.

Dublin has highest ICT take up in Europe

Dublin was the city with the highest take up by ICT occupiers in Europe. The sector accounted for 65% of the city’s take up in H1. This was up from 50% in the same period last year. This compares to 48% in Amsterdam although this was a significant increase on 2019’s 19%.

“Amsterdam, Berlin, Dublin, London City, Madrid, Munich and Prague all observed increases in the proportion of space taken by the ICT sector during 2020,” said Savills’ EMEA head of occupational markets Jeremy Bates. He added that more big lettings are expected from the sector in the remainder of the year.

After ICT and professional firms, banking, finance and insurance sector was the next most dominant sector, accounting for 16% of H1 office take up.

Source: Savills.