Melbourne CBD Office Sector is likely to remain a tenants’ market for the foreseeable future with
Posted on March 17, 2021 in News
Nelson Yap reports on behalf of the Australian Property Journal on 9th March 2021 reports the Melbourne CBD Office Sector is likely to remain a tenants’ market for the foreseeable future with the vacancy rate most likely above 10% currently and is yet to peak.
Colliers national director, valuation and advisory services Peter Volakos said a large amount of sublease space is not yet counted in some estimates of empty offices across the city, and a number of developments are expected to come online in the coming years.
The key thing that’s underpinned it this time around is that we haven’t had a withdrawal of capital and liquidity from the market and that has really been what’s saved property values.
