As we settle into 2024, the Brisbane office leasing market is showing promising signs of recovery and growth. Anticipated trends are materializing, affirming our predictions and offering insights into the evolving landscape of commercial real estate in the city. Here's a comprehensive overview of the key developments shaping the market:
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Rising Face Rents and Decreasing Vacancies.
Face rents are on the rise across all precincts, accompanied by a contraction in vacancy rates and applicable incentives. With only 10 tenancies on the market exceeding 3,000sqm+, there's a strong indication that gross face and effective rents will continue to ascend throughout the year.
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Government Activity and the Election Impact.
The State Government remains actively engaged in negotiations, parti...
