Savills expects around 3.5 million square metres of new construction space on the European office market in 2026
Savills expects around 3.5 million m² of new office space in Europe in 2026 – stable compared to the previous year, but 28% below the 2022 peak. 21% of the 2025 projects have been postponed to 2026; In 2027, the volume is expected to fall to 2.7 million m². Speculative pipeline 1.5%, top vacancies 2–3%.
