According to Cushman & Wakefield's Global Office Forecast released this week, global office markets will undergo a slow recovery, with several key markets poised to see growth continue through 2012 and 2013. While 2011 began strongly in office markets around the world, apprehension and uncertainty led to a major bump in the road to recovery during the third quarter, ... Read More
Based on preliminary data from Jones Lang LaSalle shows that grade A office rents will fall in Hong Kong and Singapore in the fourth quarter (Q4) of 2011 and will grow more slowly elsewhere in Asia Pacific. Jones Lang LaSalle's market leasing experts predict that Hong Kong and Singapore are entering a rental level correction phase, ... Read More
Based on Jones Lang LaSalle's Offices 2020 Report, a seismic shift between the traditional landlord-tenant relationship is underway. According to the report, 80% of real-estate industry executives believe tenants are becoming more powerful and demanding more from their landlords and investors. Read More
As India's economy shows signs of decreasing GDP growth rate, the Indian real estate industry faces its own share of concerns. Ashutosh Limaye, Head of Research & Real Estate Intelligence for Jones Lang LaSalle India tells World Property Channel that real estate developers are reeling under high debt and FDI inflows have also slowed down. Read More
Based on new data from CBRE, global industrial rents have continued to grow as a lack of significant new development has fueled global growth in prime industrial rents in 2011, and will drive continued rent increases over the next two years. Despite a weak economic outlook and a decline in industrial production, Read More
According to Jones Lang LaSalle's latest Global Capital Flows Report for the third quarter of 2011, four out of the top ten most traded direct real estate city markets globally in the third quarter of this year were in Asia Pacific. Hong Kong, Tokyo, Shanghai and Sydney and all made the top ten, compared to four cities in the Americas and two in Europe. Read More
The $230 million (USD) sale of Tatung Co's industrial property in prime Beitou District, Taipei by tender this week set the mark for the largest industrial office sales transaction in Taiwan year-to-date. Fubon Life Insurance Co, Taiwan's second largest life insurer, won the bid to secure the landmark property, ... Read More
While both established life sciences companies and bio-technology start-ups continue to center their headquarters and innovation activities in cluster areas within Europe, the United States and Japan, emerging markets of Brazil, India, China and others are becoming more competitive, says Jones Lang LaSalle's new Global Life Sciences Cluster Report. Read More
The world's prime office markets seem to be fairing well against an uncertain global economic outlook, according to both CBRE Global Office Rent and Global Capital Value Indices. Both indexes continued to rise during the third quarter (Q3) of 2011. Read More
Jones Lang LaSalle reported this week that the European industrial investment volumes rebounded strongly in the third quarter, totaling €2.3billion, up 13% quarter-on-quarter. This follows a slow second quarter, where volumes dipped by 14%. As a result, the year to date total of €6.8billion is 15% ahead of the equivalent period last year, ... Read More
According to Jones Lang LaSalle's new Global Office Index, prime office rents across 81 global markets increased by a further 1.1 percent during third quarter 2011 despite corporations delaying real estate decisions and facing renewed pressure to drive down costs in the face of economic volatility in Europe and the United States. Read More
Based on Jones Lang LaSalle's inaugural Global Office Index, while many businesses are delaying real estate decisions and facing renewed pressure to drive down costs in the face of economic volatility in Europe and the United States prime office rents across 81 global markets increased by a further 1.1 percent during third quarter 2011. Read More
According to global real estate firm Jones Lang LaSalle, the changing face of the region - urbanisation, population growth, output of commodities and manufactured goods and cost competitiveness in the services sector - are the main economic drivers for Asia Pacific to continue to outperform other regions. Read More
Abu Dhabi-based Aldar Properties announced today that five major UAE retail groups representing a large number of leading global brands have committed to Yas Mall. Aldar has also unveiled new details about the development's unique design that will make Yas Mall one of the most exciting retail deliveries to hit the UAE. Read More
Even though London and New York have long been considered the world's top financial hub cities, Hong Kong and Sydney are gaining ground and catching up with a number of international financial institutions expanding into the Asia Pacific region. Read More
According to figures released this week by Jones Lang LaSalle, global direct real estate investment volumes in the third quarter of 2011 totaled $US99 billion, up 36 percent on the same period in 2010. In the first nine months of 2011, investment activity increased by 43 percent, Read More
Based on Jones Lang LaSalle's 3Q Mainland China property report, average rents in the Grade A office market rose 2.5% q-o-q as expansion demand from both MNC and domestic tenants remained strong. Read More
The international real estate firm of Knight Frank has been engaged to handle the sale of St Luke's Hospital site located on Woodside Avenue, Muswell Hill in London. St Luke's Hospital opened as a mental health hospital in 1930. Part of the site was vacated after a public consultation in 2008/09 Read More
According to Jones Lang LaSalle, direct commercial real estate Investment volumes in Asia Pacific have increased to around 10% year to date. Preliminary figures released today suggest that volumes have now reached approximately USD 67 billion year to date compared to USD 61 billion for the same period last year. Read More
According to a recent executive poll from Jones Lang LaSalle, corporate tenants gave Asia Pacific a vote of confidence with 79% predicting either increased (43%) or stabilized (36%) headcount in the region over the coming quarter. Jones Lang LaSalle polled participants from 16 countries in three regions Read More
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| U.S. Office Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Inventory (sf in 1000s) |
3,577,546 |
3,575,039 |
| Completions (sf in 1000s) |
2,507 |
1,386 |
| Absorption (sf in 1000s) |
3,304 |
8.566 |
| Vacancy Rate | 16.2% |
16.2% |
| Net Asking Rent ($ per sf) |
24.63 |
24.67 |
Source: CBRE Econometric Advisors
| U.S. Industrial Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Inventory (sf in 1000s) |
12,730,225 |
12,723,912 |
| Completions (sf in 1000s) |
6,313 |
5,128 |
| Absorption (sf in 1000s) |
34,595 |
26,462 |
| Vacancy Rate | 13.7% |
13.9% |
| Net Asking Rent ($ per sf) |
5.37 |
5.37 |
Source: CBRE Econometric Advisors
| U.S. Retail Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Inventory (sf in 1000s) |
2,759,474 |
2,757,091 |
| Completions (sf in 1000s) |
2,383 |
1,335 |
| Absorption (sf in 1000s) |
3,493 |
-2,982 |
| Vacancy Rate | 13.2% |
13.3% |
| Net Asking Rent ($ per sf) |
18.15 |
18.32 |
Source: CBRE Econometric Advisors
| U.S. Multifamily Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Rentable Inventory (units) |
14,506,567 |
14,491,920 |
| Rentable Completions (units) |
14,647 |
12,501 |
| Absorption (units) |
67,382 |
92,619 |
| Vacancy Rate | 5.0% |
5.4% |
| Same-Store Rent Index ($/unit) |
$1,254.76 |
$1,239.12 |
Source: CBRE Econometric Advisors
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