Moving on in quality - Graham Parker

Experts agree that, in almost all sectors of the market, the recession has made occupiers risk-averse. Tried-and-tested locations are seen as the safest option, and the fact that prime rental levels are still depressed in many markets means prime buildings in prime locations have been mopping up what demand there is.

In the office sector, for instance, CB Richard Ellis’ (CBRE) global chief economist, Dr Raymond Torto, says that the major office locations are out-performing; “As economic sentiment has improved in most regions across the globe, occupier demand is starting to show signs of picking up,” he adds. “More companies are looking to expand and net absorption is positive in a number of office markets, including Hong Kong, Washington DC and London’s City and West End districts.”

Click here to read the full article in MIPIM Preview 2011, page 43

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