This growth in the A-category office rental market with monthly fees of €13-15 ($19-22) a square meter is not significant. Central market saw an increase of 5 % in rental prices but on the outskirts they are projected to be squeezed this year and in the following as well. In London, world leader in the office market, rental prices on West End amounts to €2,277 ($3,372) a square meter per year, which is a 30% growth compared to 2006 results, financial sector being the main borrower. The study compared 203 spots in 58 cities, 79% of them saw a rise in office prices, in 20% of them the prices did not change and only 1% of them saw an increase in office prices, while in the previous year 6% of the spots experienced fall in prices.
It was Istambul where office prices were skyrocketing by 95%, the second highest prices were found in Izmir, and Oslo came into the third place with an 81% rise. The effects of the secondary mortgage crises are still cannot be projected, but the demand for property development, especially in the Asian-Pacific region, is undiminished while price growth for the overall office market in the world will slacken, Cushman&Wakefield anticipates. (Gazdasági Rádió)
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
