Frequently Asked Questions
The Global Office Rent Tracker is intended to illustrate the office rent cycle for core locations that attract the highest rents, representing cities’ principal concentrations of major occupiers—generally, the central business district (CBD). In a given market there may be more than one business district (e.g., London West End and London City), each with unique characteristics and rent dynamics. Data is updated after the close of each quarter.
Rent cycle position represents prime net rent or the nearest equivalent. There are four broad categories: Growth Accelerating, Growth Slowing, Decline Accelerating and Decline Slowing.
- Rents at Peak: Rents are at their peak and are expected to decline over the next 6-12 months
- Rental Decline Accelerating: Rents have started to fall, and the rate of decline is expected to accelerate over the next 6-12 months.
- Rental Decline Moderating: The rate of rental decline is at its peak. Rents are expected to continue declining but at a slower rate.
- Rental Decline Slowing: The rate of rental decline has slowed. Rents are not yet at their trough, and are expected to decline further, but at a slower rate.
- Rents at Trough: Rents are at their trough. The next movement is expected to be upwards.
- Rental Growth Accelerating: Rents have started to rise, and the rate of increase is expected to accelerate over the next 6-12 months.
- Rental Growth Moderating: The rate of rental growth is at its peak. Rents are expected to continue rising but at a slower rate.
- Rental Growth Slowing: The rate of rental growth has slowed. Rents are not yet at their peak, and are expected to increase further, but at a slower lower rate.
- Rents at Peak Plateau: Rents are at their peak and are considered to have reached a plateau. Marginal further growth still possible, but a significant decline not yet expected.
- Population: in most cases reflects overall metropolitan area except where noted in Population Source footnote.
- Office Market Size: displayed in millions of sq. ft. and reflects overall urban city core only and not the entire metropolitan market. See Area Represented footnote.
- Key Submarkets: highlights notable submarkets in each city with a brief description.
- Rent Cycle Position: represents prime net rent or the nearest equivalent. See Area on Cycle footnote.
- Vacancy: reflects current reporting period rate for urban city core. See Area Represented footnote.
- Prior Year Vacancy: reflects rate for same quarter in prior year for urban city core. See Area Represented footnote.
- Prime Rent Change (Y-o-Y): reflects the rate of change in local prime net rent over the preceding 12 months. These changes are calculated based on local currency values to avoid distortions from exchange rate fluctuations.
The cities represented in the Global Office Rent Tracker are the major markets typically included in global reports, such as Global Prime Office Occupancy Costs. They do not reflect every market tracked by research.
New York - Downtown
New York - Midtown
New York - Midtown-South
- Latin America
- Greater China
- North Asia
- SE Asia
Ho Chi Minh City
- Greater China
- Western Europe
- United Kingdom
London West End
- Central & Eastern Europe
- Western Europe