CBD rents staying low

Photo / Glenn Jeffrey

Auckland CBD office rents are around $280 a square metre but new building supply looks likely to keep them low next year.

Zoltan Moricz of CB Richard Ellis said a global office rent study showed high vacancies in Auckland but said the bottom of the cycle was in sight because rents had stabilised over the second quarter of this year.

Taipei and Seoul office rents are declining. Shanghai, Beijing and Hong Kong rents are accelerating and Auckland is in between these areas, says Moricz.