Prime Central Business Disitrct office yields have already exceeded levels at the bottom of the previous investment cycle in 2003, and currently stand at 50 basis points higher in London (West End), Paris and Madrid, with Dublin at 150 basis points higher, according to new research issued by Savills on Monday. According to the broker, this indicates a deeper downturn than the previous cycle and could signify the bottom of the market is close.
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