| The world's leading centres have suffered an unprecedented fall in demand for office space which has contributed to the first aggregated global fall in prime office rents since 2003. Global real estate adviser Cushman & Wakefield, in its new Office Space Across the World report, says that 2009 recorded a steep and widespread fall in office demand with every region in the world recording falling prime rents for the first time.
The outlook for 2010 however is more positive. As some major economies return to growth, demand for office space from corporates is likely to once again increase and reduce the supply of space. Rental growth is already being recorded in some of the world's leading office markets such as the City of London and Paris CBD, and rents globally are expected to reach their low point by the middle of the year. The second half of 2010 will therefore be one of recovery and cautious optimism from both landlords and occupiers..........................................Full Press Release: Source
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