- On a year-over-year basis, the rate of growth in prime office occupancy costs slowed, up a modest 1.4% globally in Q1 2013, compared with 2.1% in Q3 2012. The slowdown was a result of slower global economic growth as well as significant expense management and cost control, footprint consolidation, and more efficient workplace design by occupiers.
- Regionally, the Americas saw the strongest year-over-year growth in prime office occupancy costs, at 2.8%, followed by Asia Pacific, at 2.1%. A significant lack of Class A office space across Asia Pacific continued to drive up prime office occupancy costs in key markets.
- Of the top 10 most expensive office markets, six were located in Asia Pacific, three were in EMEA and one was in the Americas.
Download the Prime Office Occupancy Costs Report | June 2013