Rental growth picks up pace in 2017

Rental growth for prime offices across the 125 major markets covered by the JLL Global Office Index continued to pick up pace in Q3 2017, rising by 2.7%year-on-year. This is significantly above the 10-year average growth of 1.6%. Momentum is expected to continue with above-average increases into 2018, with a projected uplift of 3% for the full-year 2017 and 2.3% next year.

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
30.1%
Melbourne
17.3%
2
San Francisco
Mid-Peninsula 12.9%
3
4New Jersey
12.2%
Portland
10.4%
5
6Chicago
10.2%
Amsterdam
10.0%
7
8Madrid
9.8%
9Stockholm
9.7%
Toronto
9.5%
10
1Sydney
24.8%
2Stockholm
19.0%
3Oakland-East Bay
16.2%
4Berlin
12.3%
Melbourne
12.1%
5
6Dubai
9.6%
7Osaka
9.3%
Barcelona
8.6%
8
9Austin
8.6%
10Hong Kong
8.3%
Dublin
14.9%
1
San Francisco
Mid-Peninsula 14.4%
2
3Oakland-East Bay
13.5%
4Sydney
10.1%
5Jeddah
10.0%
6Stockholm
9.1%
7Jakarta
8.7%
8Orange County
8.5%
9Austin
8.1%
San Francisco
7.1%
10
1Jakarta
12.3%
San Francisco
Mid-Peninsula 11.4%
2
Silicon Valley
9.0%
3
4Oakland-East Bay
6.4%
5Austin
6.0%
6Beijing
5.9%
7Stockholm
4.9%
8Manila
4.7%
San Francisco
4.6%
9
10Nashville
4.6%
Source: JLL, November 2017
Note: 1 Year: Q3 2016 – Q3 2017; 2 Years: Q3 2015 – Q3 2017; 5 years: Q3 2012 – Q3 2017; 10 years: Q3 2007 – Q3 2017



Global Office Index
Source: JLL, November 2017