CHICAGO—Uncertain economic conditions, especially in China andEurope, has resulted in subdued rental growth for offices acrossmuch of the globe, according to a study just published byDTZ Research. The firm's OccupierPerspective Global Office Review H1 2013 looked at theperformance of 90 markets throughout the US, Asia and Europe.
“The global picture for the first half of this year is showingthat most global corporations are waiting to see whether the globaleconomic recovery will provide a sustained demand for their goodsand services before they commit to expanding their office space,”says Milena Kuljanin, one of the study's authors.
In the US, the researchersfound that a majority of studied markets had lower absorption ratesthan recorded in the first half of last year. DTZ attributed thelower rates to a tech slowdown. The now-commonplace desire ofoccupiers to shrink their footprints by designing morecollaborative and open work environments also limited absorption. Alimited supply, however, offset both factors.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
