Among the major office markets in the United States, Miami had the lowest vacancy rate in the fourth quarter of 2024. Approximately **** percent of office space was vacant in that quarter, compared to **** percent in San Francisco. Since the onset of the COVID-19 pandemic, the office real estate sector has had high office vacancies, affecting both downtown and suburban properties.

Vienna, Luxembourg, and Hamburg were the markets with the lowest vacancy rates in Europe in the fourth quarter of 2024. Vacancy rates are a measurement of unoccupied properties during a given period and are a good indication of an area’s desirability and opportunity for development. High vacancy rates can indicate an economic downturn, a lack of demand, or possibly that standards do not meet speculative renters’ needs. Low vacancy rates are, in general, considered a good thing as it means there is a good level of demand from customers, although low vacancy rates may also show a need for more development which is not being met. Since the beginning of the coronavirus (COVID-19) pandemic, vacancy rates in the office sector have been on the rise because of declining occupiers' demand.
The major European office markets? London, Paris, and Stockholm were the most expensive markets for office real estate in Europe in 2023. In London, prime office space, which refers to a property of the highest quality, optimal location, and standard dimensions that are in accordance with the local demand, was able to fetch a staggering price of 2,069 euros per square meter. When it comes to total stock, Berlin ranked among the largest markets in Europe. Where is office space most profitable? According to 2024 forecast the UK is expected to see the most return on investment by 2025 and 2026 than Europe. Industry experts forecast that investment will have better prospects than development, and that central city offices will perform better than suburban offices.

In the first quarter of 2025, office availability rates in the UK were the lowest in Birmingham, at **** percent. Other cities such as Manchester and Bristol had higher vacancy rates. England's busiest office market, London, had a vacancy rate exceeding ** percent in 2024.The vacancy rate is the percentage of available office rental units that are vacant or unoccupied during a given time. High vacancy rates in a city can mean that supply is outweighing demand, or that the quality of particular properties available not meeting the desired demands of the rental market. After the COVID-19 outbreak, demand for offices has declined, leading to increased vacancies across most markets.

This statistic shows the forecasted vacancy rates of office space in selected cities in the Americas in 2019. The average vacancy rate of office space in Vancouver, Canada is forecast to be *** percent in 2019.

In the third quarter of 2024, office vacancy rates in the UK were the lowest in Birmingham, at 6.3 percent. The vacancy rate is the percentage of available office rental units that are vacant or unoccupied during a given time. High vacancy rates in a city can mean that supply is outweighing demand, or that the quality of particular properties available not meeting the desired demands of the rental market. After the COVID-19 outbreak, demand for offices has declined, leading to increased vacancies across most markets.

This statistic shows the forecasted vacancy rates of office space in selected cities worldwide in 2019. The average vacancy rate of office space in Sydney, Australia is forecast to be *** percent in 2019, the lowest in the world.

Taiwan Office Vacancy Rate: New Taipei City data was reported at 8.240 % in Mar 2018. This records a decrease from the previous number of 8.500 % for Dec 2017. Taiwan Office Vacancy Rate: New Taipei City data is updated quarterly, averaging 11.110 % from Dec 2003 (Median) to Mar 2018, with 58 observations. The data reached an all-time high of 19.880 % in Mar 2014 and a record low of 4.650 % in Jun 2007. Taiwan Office Vacancy Rate: New Taipei City data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

Vacancy rates in the German office market have risen since the beginning of the coronavirus pandemic. In the fourth quarter of 2023, Germany's capital city, Berlin, saw the third-lowest prime office vacancy rate at *** percent. That was an increase from *** percent recorded in 2022. The city with the lowest vacancy was Cologne, where *** percent of the offices were vacant.

Taiwan Office Vacancy Rate: Taipei City Grade B data was reported at 3.010 % in Sep 2018. This records a decrease from the previous number of 3.650 % for Jun 2018. Taiwan Office Vacancy Rate: Taipei City Grade B data is updated quarterly, averaging 9.010 % from Dec 2003 (Median) to Sep 2018, with 60 observations. The data reached an all-time high of 12.980 % in Jun 2010 and a record low of 3.010 % in Sep 2018. Taiwan Office Vacancy Rate: Taipei City Grade B data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

Taiwan Office Vacancy Rate: Taipei City Grade A: Ren'ai & Dunnan Road data was reported at 6.580 % in Mar 2018. This records a decrease from the previous number of 7.830 % for Dec 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Ren'ai & Dunnan Road data is updated quarterly, averaging 6.305 % from Jun 2005 (Median) to Mar 2018, with 52 observations. The data reached an all-time high of 9.100 % in Mar 2014 and a record low of 3.600 % in Mar 2012. Taiwan Office Vacancy Rate: Taipei City Grade A: Ren'ai & Dunnan Road data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

The average monthly office rent per tsubo in Tokyo's central business districts amounted to around 20.3 thousand Japanese yen in December 2024. In July 2020, the average rent reached a peak of 23 thousand yen. Low office vacancy rates in Japan’s metropolitan areas prior to the pandemic In the years before the coronavirus pandemic, increasing rents for office space reflected a general downward trend in vacancy rates for office space in Tokyo's central business districts; Chiyoda, Chuo, Minato, Shinjuku, and Shibuya. Similarly, office vacancy rates in Osaka and other major cities in Japan were also declining steadily. Increasing commercial land prices in the metropolitan areas of Tokyo, Osaka, and Nagoya accompanied this development. Real estate investment in office property With an increasing demand for office space and rising rents, the office market played a growing role in commercial real estate investment. Office property has been among the leading types of property in the portfolios of Japanese real estate investments trusts (J-REITs) and accounted for around one-quarter of securitized properties in Japan.

Taiwan Office Vacancy Rate: Taipei City Grade A: Nanjing & Songjiang Road data was reported at 13.120 % in Mar 2018. This records a decrease from the previous number of 14.300 % for Dec 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Nanjing & Songjiang Road data is updated quarterly, averaging 7.510 % from Dec 2003 (Median) to Mar 2018, with 58 observations. The data reached an all-time high of 18.420 % in Sep 2017 and a record low of 1.910 % in Mar 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Nanjing & Songjiang Road data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

The vacancy rate of office real estate in Latin America increased across most of the leading markets between the second half of 2019 and second half of 2022, except for Bogota, Monterrey, and Rio de Janeiro. Rio de Janeiro had the highest vacancy rate of **** percent in 2022, despite decreasing from 2019. In Buenos Aires, which was the best positioned market in 2019, the vacancy rate rose from *** percent to **** percent.

The vacancy rate for office real estate in Lisbon, Portugal increased since 2019. In 2024, the average vacancy rate was *** percent, which was slightly lower than in 2023. Across the major European cities, Vienna, Luxembourg, and Hamburg had the lowest share of vacant office space.

Taiwan Office Vacancy Rate: Taipei City Grade A: Dunbei & Minsheng Road data was reported at 12.740 % in Mar 2018. This records an increase from the previous number of 12.430 % for Dec 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Dunbei & Minsheng Road data is updated quarterly, averaging 7.780 % from Dec 2003 (Median) to Mar 2018, with 58 observations. The data reached an all-time high of 16.680 % in Jun 2011 and a record low of 3.100 % in Dec 2005. Taiwan Office Vacancy Rate: Taipei City Grade A: Dunbei & Minsheng Road data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

Taiwan Office Vacancy Rate: Taipei City Grade A: Zhongxiao & Xiangyang Road data was reported at 0.220 % in Mar 2018. This records a decrease from the previous number of 2.300 % for Dec 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Zhongxiao & Xiangyang Road data is updated quarterly, averaging 7.600 % from Jun 2005 (Median) to Mar 2018, with 52 observations. The data reached an all-time high of 11.400 % in Dec 2012 and a record low of 0.220 % in Mar 2018. Taiwan Office Vacancy Rate: Taipei City Grade A: Zhongxiao & Xiangyang Road data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

The vacancy rates of office real estate in Colombia between 2022 and 2024 declined in all the cities observed. In the second quarter of 2024, Barranquilla reported the lowest vacancy, at *** percent - less than half of the vacancy rate in the same quarter in 2022. The vacancy rate for office real estate in Cali was *** percent in 2024, up from ** percent in 2023.

Taiwan Office Vacancy Rate: Taipei City Grade A: Minsheng & Jianguo Road data was reported at 20.180 % in Sep 2018. This records an increase from the previous number of 9.680 % for Jun 2018. Taiwan Office Vacancy Rate: Taipei City Grade A: Minsheng & Jianguo Road data is updated quarterly, averaging 10.770 % from Dec 2003 (Median) to Sep 2018, with 60 observations. The data reached an all-time high of 38.680 % in Dec 2003 and a record low of 4.710 % in Mar 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Minsheng & Jianguo Road data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.

In 2023, Münster and Karlsruhe had the lowest vacancy rates in Germany at less than three percent which clearly indicates the high demand for this asset class. In Berlin and Munich, which are the two largest office real estate markets in the country by volume of office stock, the vacancy rate stood at 4.2 percent.

Taiwan Office Vacancy Rate: Taipei City Grade A: Xinyi Planning Distrct data was reported at 7.300 % in Mar 2018. This records a decrease from the previous number of 7.970 % for Dec 2017. Taiwan Office Vacancy Rate: Taipei City Grade A: Xinyi Planning Distrct data is updated quarterly, averaging 14.105 % from Dec 2003 (Median) to Mar 2018, with 58 observations. The data reached an all-time high of 31.470 % in Dec 2005 and a record low of 4.610 % in Sep 2004. Taiwan Office Vacancy Rate: Taipei City Grade A: Xinyi Planning Distrct data remains active status in CEIC and is reported by Taiwan Real Estate Research Center. The data is categorized under Global Database’s Taiwan – Table TW.EB027: Office Rent Index and Vacancy Rate: Taiwan Real Estate Research Center, Cathay Real Estate Development Company Ltd.