EMEA office leasing volumes continued to improve over the third quarter of 2011 despite variations in prime rents. Jones Lang LaSalle's Q3 2011 European Office Clock Report shows prime rents increased in Stockholm, The Hague (both +2.4%), Hamburg (+2.2%) and Milan (+1.9%). In contrast prime rents declined in Brussels (-3.2% Leopold District), Dublin (-3.0%), Madrid (-1.9%) and Edinburgh (-1.8%).

Despite these changes, JLL's European Office Index is unchanged.

Office rents in CEE markets remained stable compared to the previous quarter, reflecting continued positive demand.

Despite ongoing concerns, the amount of European office space let increased in Q3 2011, with 2.9 million m2 of gross take-up, an increase of 6% compared to Q2 2011 and 16% higher than Q3 2010.

Patricia Lannoije, head of research, Jones Lang LaSalle said: 'Demand is fluctuating across Europe. In the first three quarters of 2011, London office space take-up fell by 40% whilst Berlin, Munich and Stockholm grew strongly. In CEE the Q3 figures are 29% higher than the same period last year. New office space completions throughout Europe also remain low. Across the first three quarters of 2011, 2.3 million sq m completed, about 45% below the ten year average. Shortages of good quality space continue to be an issue in many markets.'