CW: Melbourne office vacancy rate of 7.73% in 4Q15
Cushman Wakefield’s Asia Pacific Office Overview of February 2016 noted that office occupancy costs in Melbourne during 4Q15 had been US$3.14 per square foot per month – or the 15th highest among the 31 cities surveyed across the region. The office vacancy rate in Melbourne in 4Q15 had been 7.73%, or the 12th lowest. In terms of the office vacancy rate, Melbourne had been ranked 13th lowest in 3Q15 and 11th lowest in 4Q14. Across core markets, the average occupancy cost in 4Q15 was US$58.08 per square foot per year and the average vacancy rate was 9.47%. Across emerging markets, the corresponding figures were US$22.64 and 17.13%.
Source : CW/Mar 2016/Melbourne/OFF