Global Office Forecast 2014-2015

12-3-2013 10-02-12 AMThe global office market is poised for slow steady growth in 2014, while 2015 should be more robust as recovery takes hold and business gains renewed confidence. Jakarta, Dublin and Boston are the regional leaders among the top cities forecasted to see the highest office rental rate growth through 2015.

The report’s findings include:

  • In the Americas, technology and energy continue to be the main drivers of the U.S. real estate recovery. As a result, Boston is expected to see continued strong demand pushing prime asking rents upwards by 22%, while Dallas is enjoying a resurgence of activity with rents expected to rise 3%.
  • In EMEA, major international cities such as London, Stockholm and Frankfurt have led in the European leasing recovery, but others are now joining in, including some from the formerly distressed fringe. Dublin, for example, has bounced strongly with no new construction underway and double-digit rental growth anticipated.
  • In Asia Pacific, more subdued growth in the region should cause leasing conditions to remain less buoyant over the next year with rents expected to advance by 1-2%. Rental growth rates will pick up in a number of core and emerging locations led by Tokyo and Manila, where supply risks are limited, upon the resumption of stronger economic growth.

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About Cushman & Wakefield/NorthMarq

​Cushman & Wakefield/NorthMarq is a joint venture formed in September 2011 by NorthMarq Real Estate Services and the Minnesota operations of global real estate services firm Cushman & Wakefield. By combining the talent of both organizations at the regional level with the global platform of Cushman & Wakefield, we offer clients the best combination of regional strength and global capabilities. The result: the leading commercial real estate firm by all measures in the Upper Midwest.
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