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Abstract
Do office rents across the globe move together? This is a question that should concern not just investors in real estate but also corporate occupiers with offices across regions and countries. This analysis investigates the existence of co-movements across global office markets by performing principal components analysis on a unique dataset of prime office rents in 32 global office markets. Results suggest that while rents in most markets appear to be driven by a common factor, regional and other differences persist, suggesting potential for diversification.
- © 2013 Pageant Media Ltd
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