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Opinions Differ on Whether Rents Will Rise

WASHINGTON, DC-The majority of respondents to a Jones Lang LaSalle monthly survey believe office rents will rise in the Washington, DC market over the next six months.

By Erika Morphy | Updated on August 31, 2006

WASHINGTON, DC-In the latest Jones Lang LaSalle’s Intelligence eReport for the Mid-Atlantic region, the company found that the vast majority of respondents to a monthly survey believe office rents in the Washington, DC-area will rise over the next six months. More interestingly, the number of respondents who project a rise in rental rates have jumped by 10 percentage points since six months ago, the last time Jones Lang LaSalle asked the question.

Of the respondents, 78% said Metro Washington office rents will be higher in six months, compared to 68%. Fourteen percent believe rents will be flat over the next six months and only five-percent think they will be lower at yearend. “Despite more speculative construction providing new leasing opportunities in some submarkets, the overall view that rents will continue to increase has not changed,” Jones Lang LaSalle said.

Like the survey, opinions of brokers and other real estate players here contacted for this article range across the board:

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