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Global Prime Office Occupancy Costs

Office Space Gets Pricier as Global Economy Edges Up | December 2015


  • Global prime occupancy costs increased by 2.4% over the past year amid healthy demand for space in top-quality properties, including from the service sector, which entered its fourth year of worldwide expansion.
  • In the Americas, prime occupancy costs increased by 3.1% year-over-year, largely thanks to U.S. markets, where rising office-using employment growth stimulated demand for commercial real estate nationwide.
  • Prime occupancy costs in EMEA rose 2.2% from their year-ago mark as the European economic recovery gained momentum. While costs in Asia Pacific increased by 1.9% year-over-year, several key markets in the region were impacted by the China slowdown.
  • London (West End) retained its position as the world’s most expensive office market, followed by Hong Kong (Central) and Beijing (Finance Street). Moscow dropped out of the top 10, replaced by Shanghai (Pudong), which moved up two spots to ninth place.



Global Prime Office Occupancy Costs December 2015

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For more information please contact:

Richard Barkham, Ph.D.
Global Chief Economist & Head of Americas Research
+1 617 912 5215
Jos Tromp
Head of Research, Continental Europe; Head of Thought Leadership and Data Strategy, EMEA
+31 (0)20 626 26 91
+31 631 96 94 38
Henry Chin, Ph.D.
Head of Research, APAC/EMEA
Asia Pacific/EMEA
+852 2820 8160
+852 2810 0830
Spencer Levy
Chairman, Americas Research & Senior Economic Advisor
+1 617 9125236

Global Prime Office Occupancy Costs