Office vacancy rate increased in USA
The office vacancy rate in the US increased. The gap in office assets increased from 16.4 percent to 16.7 percent compared to the same period of the previous year.
However, the construction of office areas fell from 12.0 to 10.4 square meters. Also, rents increased by 3 percent.
“Rent growth has been steady throughout the last eight years, but the rate of growth has barely edged out the rate of inflation,” Reis said.
U.S. office employment growth improved as the country added about 51,400 office jobs per month through November of 2018, up from an average increase of 49,000 jobs in the same period of 2017, according to the Reis report.
Higher completions in 2019 and an expected deceleration in office employment should push vacancy rates up a bit, but rent growth should remain positive and in line with recent growth rates, the report said.
Sevdenur Demir / realestatecoulisse.com
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