Real Estate
In the country
Do you rent an office in Tel Aviv?
You will not like to hear these gospels
CBRE Israel's market research on the office and trade industry in the third quarter of 2021 states that rents for offices in Tel Aviv in 2021 will increase by 13% to NIS 108 per square meter.
The city has an occupancy of about 95 percent
Tags
Offices
Walla!
Real Estate
Monday, 25 October 2021, 09:40
Share on Facebook
Share on WhatsApp
Share on general
Share on general
Share on Twitter
Share on Email
0 comments
CBRE Israel conducted a market study on the office and commercial industry in the third quarter of 2021. In Tel Aviv, there was a 7% increase in rents in the third quarter compared to the previous quarter, and a cumulative annual increase of 13% to NIS 108 per square meter. 95%, an increase of two percent.
Good to know (promoted)
Due to the growing demand for effective pain treatment: B-Cure laser in a special operation
To the full article
Third quarter table (Photo: CBRE Israel)
Yaron Shachar, Director of the Investment and Research Department at CBRE Israel: In annual summary, rents for offices in Tel Aviv, Herzliya and Ramat Gan increased by 13%, 6% and 4%, respectively. In the other areas, there is price stability, with the exception of Petah Tikva, where an annual decrease of 4% was recorded.
It is worth noting that the rate of construction starts has returned to normal and even beyond that - about 533 thousand square meters in the first half of the year. The trend intensified in the second quarter of 2021 - 291 thousand square meters in the second quarter (compared to 116 thousand square meters in the corresponding quarter last year). 50% of housing starts are the cities of Rishon Lezion, Petah Tikva and Jerusalem (18%, 17% and 15% respectively).
branch offices grew especially due to the demand for office space high-tech companies that grew and recruited workers - are still missing about 30,000 workers in the industry. in addition, The space per employee has increased to 15 square meters. There is a welcome trend in the industry of establishing development centers in the signing of long-term contracts by companies such as Apple in Haifa, Microsoft and Facebook - as a result the demand for offices will increase with an emphasis on Tel Aviv.
Many companies are upgrading their offices and increasing the demand for fine tower complexes, such as: Rubinstein Twin Towers in Hassan Arafa, ToHa Tower, Vitanya Bella Guardia, Spirala-Azrieli and Landmark Sharona.
Supply does not meet demand and there is a reasonable possibility of leakage to the second circuit.
Rents in the third quarter
Tel Aviv - NIS 108 per square meter
RJ - NIS 82 per square meter
Herzliya - NIS 83 per square meter
Raanana - NIS 54 per square meter
Lod - NIS 44 per square meter
Haifa - NIS 65 per square meter
Jerusalem - NIS 66 per square meter
Almost full occupancy.
Offices in Tel Aviv (Photo: Reuven Castro)
The CBRE Israel study shows that in the field of commerce, rent stability throughout the country was recorded in this quarter compared with the previous quarter.
Rents in this quarter in most areas reached their level in the corresponding quarter last year, with the exception of the first circle cities: Tel Aviv, Herzliya and Ramat Gan, which experienced a cumulative annual decline of 4%, 7% and 2%, respectively.
The cities of Netanya and Rehovot also experienced annual declines.
Share on Facebook
Share on WhatsApp
Share on general
Share on general
Share on Twitter
Share on Email
0 comments
