The following is a summary
Office Space Across the World provides an analysis of the global office market over the past year, as well as discusses the industry’s main trends for the year ahead. The primary focus of this report is prime office rental performances and occupancy costs across the globe, including a ranking of the most expensive locations across the world in which to occupy office space. The report also gives a more in-depth rental and occupier overview for each region, concluding with a detailed list of market data pertaining to each office location.
The information and data provided in this report are based on a comprehensive survey of Cushman & Wakefield’s international offices, and the editors are extremely grateful to them for their time, effort and assistance.
Highlights for 2013
- London confirms its position as the world’s most expensive office market for the second consecutive year
- Hong Kong ranks second after losing top spot to London last year
- Global office rents increase by 3% overall
- Americas office performances were polarised – while the USA and Mexico saw prime rents rise, prime rents declined in some of the larger South American locations
- In Asia Pacific rental growth was largely flat on the back of a slowing economy; however, the economic climate improved as the year progressed
- EMEA recorded a regional rental uplift of 3% – the highest regional rise seen since before the depths of the economic downturn