Some of the economic concerns the commercial brokerage firm cited as potential problems for the office market include: a struggling US economy as well as rising energy costs, particularly for Europe and most of Asia. Colliers officials noted, however, that the Organization for Economic Cooperation and Development considers the prospects for the world economy to remain relatively bright and anticipates the global economy to grow by 3.3% in 2001. This compares with 4.3% growth in 2000, which was the fastest rate of growth for the world economy in more than a decade.

Colliers officials say that most European office markets are experiencing rising demand. Fueled by improving labor markets, most of Europe's major office markets continue to experience increased demand. Reflected by a 20-year low unemployment rate of 9.0%, job growth in most of Europe has significantly increased the demand for office space.

Recent statistics show lower vacancy rates were recorded in almost all European cities with the major markets of London, Paris and Frankfurt all posting sharply lower vacancy levels. With office space becoming scarce in these financial hubs, rents increased substantially to register top rents of $129, $80 and $52 (US) per sf for London, Paris and Frankfurt respectively.