From CBRE:
The global economy turned more positive in the opening months of 2015 as the U.S. resurgence gained further traction and growth in the Euro area, albeit modest, beat expectations.- Asia Pacific economic growth is expected to pick up slightly in 2015, although there is continued concern about slowing growth in China and the possibility of a recession in Japan.
- The majority of the 19 markets included in the Global Office Rent Cycle were in the upswing, with most markets at a point where rental rates are gaining momentum.
- Amid a banner 2014 for the U.S. economy, virtually all U.S. office markets ended the year in the upswing of the cycle.
- In EMEA, there was notable rental growth in second-tier markets such as Birmingham, Liverpool and Marseille—likely a knock-on effect of pricier rents in key capital cities.
- The Asia Pacific office market ended 2014 on a strong note, with quarterly net absorption at its highest level for the year.
Download the Global Office Rent Cycle MarketView | Q4 2014
