Sunday, March 30, 2008

Office rents rise in Tel Aviv

Israel is near the middle of a Cushman & Wakefield ranking.

The global economic crisis has not yet affected prime office rent. The 2008 "Office Space Across the World" by Cushman & Wakefield shows a 14% rise in office rent worldwide in 2007, following a 10% rise in 2006. "In 2007, 90% of the countries and 79% of the locations surveyed showed rental growth. Only three locations, or 1% of the sample, showed a rental fall this year, with the remainder experiencing stable conditions."

Israel is ranked 32nd in the 2008 survey, compared with 39th place in the 2007 survey. Israel's prime office space is the central business district of Tel Aviv.

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