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Tends to balance global supply and demand started to decline office vacancy rate

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CB Richard Ellis, said the message from the U.S. office market rents bottomed out several major global office vacancy rate reached its highest point, most of the market is declining. November 25, 2010, according to CB Richard Ellis released the latest issue of "global office rent cycle" quarterly report, the U.S. office market rents decline signs of leveling off, some of the major cities, such as China Washington, DC and New York have touch the bottom of the rent cycle. Most of the world market, office vacancy rate is close to its peak and begin to decline, suggesting that the major markets as Europe and Asia the growth in rents, supply and demand dynamic balance between the show. Over the past year, office rents in London than expected to show strong growth. Prime office rents in the third quarter of 2010 increased to 52.5 pounds per square foot per year. Since the market has bottomed out, excellent The annual growth rate of quality office rents 25% higher next year, will appear double-digit gains. Based on a more healthy financial results and expectations of regional economic growth, companies become more dynamic, resulting in the Hong Kong market, office rents increased strength over the past few months. The third quarter of 2010, Central, Hong Kong Rental of office buildings in the total area of approximately 110,000 square feet (about 10,200 square meters), the vacancy rate dropped to 3%, which will push rents up by 10.9%, to 105 Hong Kong dollars per square foot, which is from 2009 In the third Bottom quarter of the market the highest quarterly increase since the rent. CB Richard Ellis, Dr. Raymond Torto, chief global economist, commented: "With the global economic environment in most parts of the improvement in tenant demand for office space began to appear signs of recovery. More and more companies Hope to expand office space, office market this quarter, many show a positive net absorption, including Hong Kong, Washington, DC, London City and West End. " U.S. office market continued to lag behind the pace of recovery in Europe and the Asia Pacific region, but the net absorption of Washington so far this year (first to the third quarter) to reach 390 million square feet (approximately 362,000 square meters) , Since 2007 the demand for multi-tenant building, the first time exceeded supply. Vacancy rate in Washington, DC in the past 6 months fell by almost 2 percentage points to 10.3%, which is the history of U.S. office space market Set the maximum rate of decline. Asking rents increased by 1.8% year on year, is expected next 6 to 12 months, asking rents of the city will remain at current levels or increased slightly. Supply-side factors suggest that subtle changes in market fundamentals. In London, the sharp increase in pre-leasing activities, reflecting the tight supply situation and the limited number of properties under construction. In the coming year, development funds crunch Will lead to further tightening of supply, not only in London, other places too, especially in Europe and the Americas. Dr. Torto added: "supply and demand balance changes mean most of the major markets of Europe and Asia, there was a certain level of rental growth. Rental growth is expected to accelerate in the coming months."