Global office vacancies at two-year low, rents driven higher
08-Feb-2012
According to a report by Jones Lang LaSalle, global office vacancies have dropped to their lowest level in two years, driving rents higher for an eighth straight quarter, Bloomberg has reported. Global vacancy edged to 13.6%, said the worldÂs second-biggest publicly traded commercial property broker. Prime office rents have risen for eight straight quarters, climbing 0.8% over the September quarter and 6% from the same period a year ago, said the report. ÂThe rental outlook for 2012 has been tempered by ongoing economic uncertainty, although we continue to expect positive rental growth in most major prime office markets, Jeremy Kelly, director at Jones Lang LaSalleÂs global research team, said in the report.
