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Global office forecast 2013-2014

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Global office forecast 2013-2014

Real estate at its core is a local business, but there are some clear global themes that can be drawn out of the current market. While there will be variations within and between regions, it is widely anticipated that the global office market will stabilize in 2013 with slow growth being the norm in early 2013. While some markets and regions will experience increased activity later in the year, noteworthy growth is not expected in the majority of locations until 2014 and beyond.
The office market is transforming itself, particularly in the more mature markets. While many firms are profitable, they continue to take a hard look at their operational costs, including real estate expenses. Tenants are focused on achieving efficiencies and in many instances this has translated into occupying less space. Where possible, occupiers across all industry sectors will continue to explore new workplace design concepts that enable them to shrink their occupancy footprints.

Source : Cushman & Wakefield

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