Rental growth exceeds expectations in 2017

Rents for prime offices across the 125 major markets covered by the JLL Global Office Index rose by 3.1% for the full-year 2017, above our forecasts at the beginning of 2017 and the largest increase in two years. More of the same is anticipated for 2018, with a projected uplift of 2.5% for the year, significantly above the 10-year average of 1.9%.

Visualising Office Rental Performance

Global annual rental growth 2001 - 2018



Top 10 Cities by rental growth
  • 1 Year
  • 2 Years
  • 5 Years
  • 10 Years
1Sydney
26.0%
2 West Palm Beach
14.0%
Melbourne
13.4%
3
4Stockholm
12.9%
Vancouver
11.8%
5
6Berlin
11.1%
7Osaka
10.3%
8Oakland-East Bay
9.9%
9 Monterrey
9.8%
Phoenix
9.3%
10
1Sydney
24.2%
2Stockholm
16.0%
Melbourne
13.2%
3
4Oakland-East Bay
12.1%
5Berlin
11.8%
6Osaka
9.8%
7Buenos Aires
9.1%
8 West Palm Beach
8.6%
Barcelona
7.8%
9
Portland
7.7%
10
San Francisco
Mid-Peninsula 14.9%
1
Dublin
14.9%
2
3Oakland-East Bay
14.3%
4Sydney
11.3%
5Stockholm
9.7%
Orange County
9.3%
6
7Austin
7.8%
San Francisco
6.9%
8
9 Raleigh-Durham
6.7%
10Nashville
6.5%
San Francisco
Mid-Peninsula 12.5%
1
2Jakarta
11.4%
Silicon Valley
7.7%
3
4Oakland-East Bay
6.8%
5Austin
6.0%
6Beijing
5.4%
7Stockholm
5.0%
8Manila
4.4%
9Nashville
4.3%
San Francisco
4.2%
10
Source: JLL, February 2018
Note: 1 Year: Q4 2016 - Q4 2017; 2 Years: Q4 2015 - Q4 2017; 5 years: Q4 2012 - Q4 2017; 10 years: Q4 2007 - Q4 2017



Global Office Index
Source: JLL, February 2018