Wed, 25 Aug 2010 | COMMERCIAL PROPERTY
The commercial property market in the City of London continues to lead global recovery in real estate rents.
According to the latest Global Office Rental Cycle report released by CB Richard Ellis, the level of rental growth in city offices seen to date sets it well ahead of other markets thanks to increased demand for occupation in the financial sector.
The report, which measures prime rents, take-up levels and vacancy rates across 17 global markets, also found that the Europe, Middle East and Africa (EMEA) region has gained momentum in the office rental rebound over the past quarter.
Another sector that is hot on the heels of the City of London office rents is London's West End commercial property market - rents for West End offices recorded the highest increases in Europe during the second quarter of 2010, according to Jones Lang LaSalle's Q2 2010 European Property Clock.
The market in Hong Kong has also shown strong pick-ups over the last quarter.
But, the report has also warned that ongoing government debt problems and concerns over policy issues could hamper performance of the market for the remainder of the year.
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