SUMMARY
The general vacancy rate for class-A office buildings in the Central Business Districts (CBD), climbed to 16.2%. An increase in stock was the main reason of this escalation. The vacancy rate for class-B office buildings was 7.9%.
The average rent for class-A office buildings in the Central Business Districts (CBD) was US$ 30.3 /m²/month. The rental average for Class-B office buildings has shown an increase in comparison with the third quarter, and rose to US$ 18.2 /m²/month.
The general vacancy rate for class-A office buildings in “Out of CBD-Europe”, was 12.2% in the fourth quarter. The general average rate for class-A office buildings was US$ 19.2 /m²/month.
The general vacancy rate for class-A office buildings in “Out of CBD-Asia”, was 16.7% in the fourth quarter and the average rate for class-A office buildings was US$ 20.9 /m²/month.
The prime rent amongst the operating buildings in Istanbul Office Market was in Levent with the rate of US$ 45/m²/month. Levent, Besiktas-Balmumcu and Etiler were the districts with prime rents.
(This article features excerpts from the full report – please download it here)
