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Provides a snapshot of the rarefied world of the premium office market. While only a fraction of a city’s corporate base will pay such premium rents, the tracker does benchmark office occupation costs on a like-for-like basis. It provides a useful barometer of relative city attraction, as well as highlighting the intense strains that many cities are now facing as their real estate markets try to accommodate growth.
We are in a new era of city competition, where cities are fighting to secure the world’s most dynamic corporations, attract the best talent and pull in footloose capital. Increasingly, the commercial real estate sector is playing a pivotal role in this battle as the combined forces of globalisation and technological disruption reshape the world’s urban hierarchy and urban form.
Perhaps nowhere is this intense competition between cities better epitomised than in the demand for premium office buildings in the world’s most prestigious commercial office districts. To capture this dynamic, JLL’s Premium Office Rent Tracker compares occupancy costs across a broad range of the world’s major cities.
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16 February 2016