From CBRE: Cost Increases Signal Economic Momentum
The cost to occupy prime office space keeps rising. One reason why: global, multinational organizations need the highest-grade, best-located properties to attract and retain top talent—and are willing to pay a premium to obtain it.
Of the 126 office markets tracked around the globe, over half (74 markets) saw annual increases in prime occupancy costs, 26% (33 markets) registered declines and 15% (19 markets) saw no change. Of the 74 markets with occupancy cost growth, 13 saw increases of at least 10%, led by Dublin, Manila and Seattle (Suburban).