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Occupancy Costs Soar In Asia, Drop in U.S.

CHICAGO, IL- Occupancy costs in Asia and the U.S. went in different directions during 2012, a new study by DTZ has found.

By Brian J. Rogal | Updated on March 11, 2013

CHICAGO, IL- DTZ has just released its annual Global Occupancy Costs-Offices survey and revealed that the costs for office space in North Asia increased by 6.3%. The United States offered a sharp contrast. Costs fell 10.9%, largely driven by the successful attempts of American tenants to increase workplace efficiency and cut down on the amount of space used by employees. On average, however, American workers still have the roomiest workstations in the world.

“The U.S. was undoubtedly one of the stories of the year, with occupancy costs per workstation falling in every city,” said Karine Woodford, the head of occupier research at DTZ, a London-based company.  “Demand for space was low, reflecting a sluggish labor market and weak corporate sentiment, but the biggest reason for the decline was a trend across the board for greater space efficiency.”

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