Published:
Office rents to increase 20％ in 2011
Grade A rents are expected to rise up to $12psf this year, DMG & Partners said.
According to Brandon Lee of DMG & Partners, a 12% y-o-y rise in Grade A properties is expected. It will rise up to $2,750psf. Prime capital values are also expected to rise 3% to $2,150 psf, while prime rents will give a slight increase of up to $9psf.
"We expect the healthy GDP growth and positive employment market to drive office demand," Brandon Lee says, "capital values will further expand, helped by improving appetites for office properties amidst a backdrop of low inerest rate environment and rising rentals."
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