Global office demand is proving resilient in many of the world’s dominant commercial real estate markets despite increased political and economic uncertainty, new research has found.

Although corporate occupiers may be striking a more cautious tone office supply continues to tighten on the back of a shallow development cycle, resulting in continued upward momentum in aggregate rental growth, according to the latest analysis report from JLL.

According to Propertywire.com, it shows that rents on prime office assets across the 110 major markets covered by the JLL Global Office Index increased by 3.6 per cent year on year in the second quarter of 2016, the fastest pace of annual growth in four years. Quarter on quarter rents rose by 0.8 per cent compared to 0.6 per cent in the first quarter of the year.

However, economic uncertainty and continued political risks are likely to dampen leasing volume growth over the remainder of the year, with global leasing volumes in 2016 projected to be around five per cent lower than 2015.

 PUNCH.