CONVERSATIONS : Andy Poppink, Chief Executive Officer Markets Advisory, JLL cohosted with CoStar
[MIPIM 2023] European property markets haven't experienced a significant generalized decompression of rates but ratherΒ ...
Chief Executive Officer of Leasing Advisory & Member of the Global Executive Board, Jones Lang Lasalle
Search every verified Andy Poppink interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. Andy Poppink, Chief Executive Officer of Leasing Advisory and a member of the Global Executive Board at Jones Lang Lasalle, has commented on the state of European real estate markets. Speaking at MIPIM 2023, he said that European property markets have not experienced a generalized decompression of rates but rather a dichotomy, with high-quality, ESG-compliant assets in cities like Paris seeing record rental rates while other segments face obsolescence. He noted that the collapse of Silicon Valley Bank and regional banks caused disruption, and he expressed concern that the banking crisis could slow funding for innovation. Poppink stated that his roadmap for JLL involves stabilizing the existing business while accelerating digital transformation and finding new ways to engage clients. In earlier appearances, Poppink discussed the transformation of real estate markets following the pandemic. At MIPIM 2022, he said that the pandemic accelerated trends already underway, leading to a more people-centric approach to real estate focused on health, well-being, and ESG goals. He noted that leasing markets in core markets became active in early 2022 as companies reconsidered their space needs. Poppink also expressed gratitude for the CoreNet Global community and, in a 2018 discussion, described JLL's commitment to technology, including the launch of a $100 million fund managed by an independent group called JLL Spark.
“The Paris office market is larger than the Manhattan office market, which puts into perspective the scale and importance of European real estate markets.”
“We're in a unique moment where the future of work and return to office varies significantly market to market, with large cities like London and Paris seeing more enthusiasm for office return compared to slower markets like Germany.”
“Mandates to bring people back to the office haven't worked; instead, attracting employees back depends on the quality of space and amenities, as well as ESG compliance, which is especially important in Europe.”
“In Paris, we saw the highest rental rates ever in the central business district, driven by demand for high-quality, ESG-compliant assets, creating a dichotomy where some market segments are active and others are becoming obsolete.”
“Climate and energy factors influence office return patterns, for example, in Madrid, high summer energy prices and air conditioning needs affect occupancy differently than in colder climates like the UK.”
“The collapse of Silicon Valley Bank and regional banks caused significant disruption, but government intervention to protect deposits prevented a massive ripple effect in the innovation ecosystem.”
“The biggest fear is that the banking crisis could slow down funding for innovation, which is inherently riskier than property investment but critical for driving progress over the next 5 to 15 years.”
“Big tech companies have driven the property sector for years, and the new companies getting funded now are the ones that will shape the future, so stability in funding is crucial.”
“Runs on banks are old-fashioned but can accelerate rapidly from a single call, highlighting the fragility of confidence in the banking system.”
“My roadmap for JLL is to stabilize the existing business while accelerating digital transformation and finding new ways to engage clients, balancing empowerment of teams with pace of change.”
“I just want to say how grateful I am for the CoreNet Global community and all the amazing people that I've had the opportunity to meet through CoreNet Global programs and events.”
“Our global real estate market has transitioned a fair amount due to the pandemic; it's also accelerated trends that were already underway. Real estate is not there to serve itself, it's serving the people, solving a productivity and profitability challenge for companies.”
“We've seen a much more people-centric approach to real estate so that it's serving the individual from a health and well-being standpoint and really trying to fit the needs of what the future of work is going to look like.”
“Many technology companies like Google and Apple announced their return to work programs, enabling the ability to work remotely and work from everywhere. We're starting to see that in mass we're coming back to offices as a critical component of our work-life balance and how companies operate.”
“This transformation also affects the leasing market where companies are wondering what surface they need and how they want to plan their spaces. There are clear trends like ESG, health and well-being, and the infusion of technology supporting those goals.”
[MIPIM 2023] European property markets haven't experienced a significant generalized decompression of rates but ratherΒ ...
Andy Poppink, President, West Region, JLL expresses his gratitude for the CoreNet Global community. #CNG20Β ...
Following the global pandemic, the global real estate market has been transforming in different ways, depending on theΒ ...
Andy Poppink, JLL - MIPIM Leaders' Perspectives Summit More info: https://www.mipim.com.
Speakers: Pierce Neinken, Global Portfolio Manager, Airbnb (Moderator) Andy Poppink, President, West Region, JLL Andrew R.
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