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Global Office Rent Cycle MarketView Q4 2015

Growth in service sector employment to offset stock market weakness

Summary

  • The global expansion of the service sector is providing an environment for companies to hire new staff and driving steady demand for office space. This helped drive a 0.3% quarter-over-quarter increase in the Global Office Rent Index. Year-over-year, global rents were up 2.7%.
  • In the U.S., tightening market conditions fueled rent growth of 4.0% in 2015, a slight deceleration from the 4.5% growth registered in 2014, but still well above inflation.
  • Rents in Latin America were negatively affected by economic weakness, especially in Brazil, Argentina and Colombia, but strong demand from multinationals supported prime rents in Mexico.
  • Economic improvement and stronger leasing demand contributed to positive but still highly uneven rental growth in EMEA. The EMEA Office Rent Index was up 0.4% quarter-over-quarter, a slight decline on the 0.6% quarter-over-quarter growth recorded in Q3 2015.
  • The Asia Pacific Office Rental Index edged up 0.3% quarter-over-quarter, an almost identical growth pattern as in Q3 2015. Rents in North Asia and India posted solid growth.

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Global Office Rent Cycle, Q4 2015


Global Office Rent Cycle Marketview Q4 2015 Infographic



Global Office Rent Cycle MarketView

For more information please contact:

Nick Axford, Ph.D.
Head of Research, Global
+44 20718 22876
Richard Barkham, Ph.D.
Chief Economist, Global
+44 20718 22665
Neil Blake, Ph.D.
Head of Foreccasting and Analytics, Global
+44 20 7182 2133
Henry Chin, Ph.D.
Head of Research, Asia Pacific
Asia Pacific
Research
+852 2820 8160
+852 2810 0830
Spencer Levy
Americas Head of Research
+1 617 9125236
Dennis Schoenmaker, Ph.D.
Global Economist
+44 2071822457