EMEA Office Market Rent Cycles, Q3 2010

As at 30th September 2010

Rental Decline Accelerating Rental Decline Slowing Rental Growth Accelerating Rental Growth Slowing

A Athens

H A V M M
Madrid Barcelona

Helsinki Amsterdam Vienna Munich Manchester Birmingham Frankfurt Moscow London TV Geneva Prague Zurich

M B
Lisbon

Budapest Copenhagen

B F M T G P Z

L B

C Milan M D

L
Paris

London City

Bucharest

Dublin Rome

R Hamburg H
Edinburgh

O Oslo L London West End W Warsaw D Dusseldorf S Stockholm B Brussels B Berlin

NB. Markets do not necessarily move along the curve in the same direction or at the same speed. The rental cycle is intended to display the trend in net effective rents

Source: CB Richard Ellis

CB Richard Ellis | Page 1