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VOLATILITY FAILS TO DENT GLOBAL OCCUPANCY COST GROWTH

Global Prime Office Occupancy Costs | June 2016

Highlights

  • Hong Kong (Central) climbed to the top of CBRE’s semi-annual ranking of the world’s most expensive office markets, displacing London-Central (West End), which dropped to second place.
  • Globally, prime office occupancy costs increased 2.4% in the year ending Q1 2016, the same rate of growth reported in our December 2015 survey.
  • Costs in the Americas rose 2.3% on an annual basis, with four markets—Monterrey, Atlanta (Downtown), Seattle (Downtown) and Atlanta (Suburban)—logging double-digit percentage gains year-over-year.
  • In Asia Pacific, the impact of the China slowdown was muted, with region-wide costs rising 2.7% year-over-year, and several Chinese tier-one markets and Hong Kong either holding firm or notching gains.
  • Occupancy costs in EMEA increased 2.1% year-over-year, with Dublin, Stockholm and Barcelona the fastest-growing markets in the region. Most Central and Eastern European markets were down year-over-year, including Moscow.

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Global Prime Office Occupancy Costs June 2016

For more information please contact:

Nick Axford, Ph.D.
Head of Research, Global
+44 20718 22876
Richard Barkham, Ph.D.
Chief Economist, Global
+617 912 5215
Jos Tromp
Head of Research, EMEA
+31 (0)20 626 26 91
Henry Chin, Ph.D.
Head of Research, Asia Pacific
Asia Pacific
Research
+852 2820 8160
+852 2810 0830
Spencer Levy
Americas Head of Research