Demand for Office Space
In a recent Linkedin post, Dror Poleg commented on the most recent NAIOP Office Space Demand Report for Q2, 2024. These figures are for the US markets and all markets are different. But this is a global trend.
Earlier this year we presented the following statistics for office space net absorption in major capital cities of Australia using the Property Council of Australia’s Office market Report figures released in February 2020.
It will be interesting to see the mid-year figures which will be released in early August. Each market is different but in general, we believe net absorption should improve because the incentive induced deals inked in the second half of 2023 should show up in the occupancy figures in the first half of this year.
However, the burning question is how much space did tenants actually lease – more or less than the previous lease? That is where the real net absorption lies.
No Comments