Global commercial property markets slowing improving despite economic woes

While economic uncertainty still affects the main commercial real estate centres around the world, global real estate markets are showing steady improvements, according to Jones Lang Lasalle’s latest forecasting report.

The firm’s Global Office Index reveals t5hat the fourth quarter of 2011 was the eighth consecutive quarter where prime office rents have risen, up 0.8% over the previous quarter and 6% up on the fourth quarter of 2010. Global vacancy is edging down to the lowest point for the past two years at 13.6%.

‘The majority of global leasing markets are holding firm, and many are showing remarkable resilience especially among the BRIC countries, as well as robust showings from Canada, Australia, Germany and the Nordics,’ said Jeremy Kelly, director in Jones Lang Lasalle’s global research team and report author.

‘While leasing markets in the major financial centres are softening, the limited supply pipeline should ensure that they do not move significantly out of balance,’ he added.

Source: PropertyWire.com