Hi All,
With the number of cranes working in Perth at the moment, does anyone see a looming over-supply of office space in 2 years?
To my very untrained eye, we are building more office space in Perth right now than the sum of office supply since the 1970's.
This will be a good thing eventually....heaps of modern, energy efficient office space that will be put into the market, but I see some wild swings in rents and valuations in the short term (2-10 years).
It will change the look of our city drammatically as new replaces old.
We may well have demand for most of it, but I could not tell as I am not actively involved in this market.
Glenn
With the number of cranes working in Perth at the moment, does anyone see a looming over-supply of office space in 2 years?
To my very untrained eye, we are building more office space in Perth right now than the sum of office supply since the 1970's.
This will be a good thing eventually....heaps of modern, energy efficient office space that will be put into the market, but I see some wild swings in rents and valuations in the short term (2-10 years).
It will change the look of our city drammatically as new replaces old.
We may well have demand for most of it, but I could not tell as I am not actively involved in this market.
Glenn