A recovery in global office values and rents is slowing as sovereign debt concerns in Europe and lingering economic worries in the U.S. take their toll on investors around the world, according to real estate services firm CBRE Group Inc.
Global office values rose 1.1 percent in the three months ended Sept. 30 from the previous quarter, and rents added 0.9 percent, CBRE said in an e-mailed release.
“Although both rents and capital values continued to rise, quarterly growth rates lost momentum,” Raymond Torto, CBRE’s global chief economist, said in the release. “Even in Asia -- which continues to propel both indices higher -- activity slowed due to global economic headwinds.”
Office values in the Asia-Pacific region rose 1.1 percent in the third quarter, while rents climbed 2.2 percent, the report said. Values in the Americas added 1.5 percent, while Europe, the Middle East and Africa saw gains of 0.8 percent.