Global Prime Office Rent Tracker FAQ

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.

• 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 Global Prime 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.

The cities represented in the Global Prime 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.