Office MarketBeat Report
Claro Cordero Jr. • 04/11/2024
By the end of Q3 2024, the overall vacancy rates for Prime and Grade ‘A’ Office developments in Metro Manila rose by 280 basis points (bps) quarter-on-quarter and by 136 bps compared to the previous year. The average vacancy rate reached 18.2%, the highest level estimated by Cushman & Wakefield Research since Q2 2004, marking an increase of over 1,380 bps since Q2 2020.
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