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Global Office Indices MarketView (Q2 2012)

Some Heartbeat for Prime Office

​Overv​​iew

  • Global office rents and real estate values increased modestly during Q2 2012, with the CBRE Global Office Rent and Global Office Capital Value Indices each rising by 0.3%.
  • Growth for all regions moderated in Q2; however, the U.S. market posted the strongest advancement in both rents and capital values, thanks to occupiers’ interest in Class A space in CBD locations.
  • Risk-averse investors continue to regard U.S. gateway markets as a comfort zone due to the perceived liquidity of trophy assets in markets such as New York, Chicago, San Francisco and Boston.
  • Overall, the performance of Asia Pacific’s Rent and Capital Value Indices has been noticeably muted, relative to the expansion witnessed in 2011. Regional variation persists, though, and the Greater China and Pacific leasing and capital markets continue to fare well compared to other Asian markets such as Hong Kong, Singapore and Guangzhou.
  • Against the backdrop of the European Sovereign Debt Crisis, Europe is considerably weaker than both the Americas and Asia Pacific. The EMEA Rent Index declined slightly this quarter and its Capital Value Index declined for the third consecutive quarter. Markets with stronger economies in the Nordics and Germany have been performing best.

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