JLL flags shortage of investment-grade offices as innovation spreads to more cities

Reuters04-01
JLL flags shortage of investment-grade offices as innovation spreads to more cities
  • JLL analysis flagged a shortage of investment-grade office supply as innovation activity spreads across a wider set of global cities.
  • Only 11% of global office space was built after 2020, limiting availability of modern buildings favored by innovative companies.
  • Share of post-2020 office stock fell to 9% in Bay Area, Beijing, Boston, New York, Seoul.
  • New-build CBD vacancy dropped to 0.9% in Paris, 1.2% in London, signaling tight conditions for premium space.
  • Prime rents across top-tier core and anchor cities averaged more than $1,296 per square meter, versus entry points as low as $324 in some emerging markets.


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