Commercial Figures Rotorua

The overall vacancy level for prime office space remains low with unsatisfied demand.

A limited supply of vacant land close to the CBD underpins a relatively robust industrial market. A shortage of available space to lease with an overall vacancy level at 3.1% is keeping rent levels firm. Even with reduced market confidence in 2022 and 2023, rents across all industrial property types are showing modest increases.

The retail leasing market in Rotorua remains soft with a general oversupply, although CBD vacancy rates have remained static over the past two years. There has been considerable site swapping as tenants try to reduce their cost structures or move to better sites on improved rental terms.