Global Occupier Markets: Prime Office Costs – Q4 2025

Commercial Leasing 06 February 2026

Over the past two years, net effective costs for best-in-class office space have risen significantly across most of the 40 markets we track, with a global average increase of 9.2%. In this report, we explore the drivers of this growth, examine key regional dynamics and highlight the structural differences emerging across major business hubs. We conclude with insights from our global outlook for 2026.

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