Companies Pull Back On Global Office Spending This Year
Global leasing volumes are set to fall 5% during the course of 2016 as companies hold off making decisions due to uncertainties in markets and weaker business sentiment.
But it’s not all bad news—fundamentals should remain solid while global corporate demand keeps pace, JLL reports. In the US, leasing activity rebounded 18% in Q2 while almost 40% of total leasing volumes took place in the nation’s five largest cities.
When looking at Asia-Pacific markets, performance is mixed. Beijing and Shanghai experienced a 40% to 50% drop in volumes while Tokyo enjoyed a massive 93% boost from a year ago. [JLL]