Office rents soar around the world

A new Global Market Rents Survey from CB Richard Ellis reveals that the cost of occupying office space is growing strongly around the world.

In the past 12 months, 87% of the 170 office markets monitored – including all of the major NZ and Australian CBDs – have recorded positive growth in occupancy costs.

However, CBRE research director Zoltan Moricz said NZ was being outpaced by its global counterparts.

“The local perception is that prime office rental increases have been very rapid in NZ over the past year, with a 9-10% growth rate,” Moricz says.