Insights & Research

As a result of the increasing occupancy rates and the limited vacant office space in the office markets, it is possible to conclude that transaction volumes decreased, and rental prices increased in the 1st Quarter of 2023.

Looking back at the 2022 retrospective, it is possible to conclude that the landlords continue to have leverage because of the high demand and high occupancy rates in the office markets.

With the pandemic's impacts lessening and the normalization process taking place, the office market remained active in the second quarter. The market's activity has led to a continued decline in vacancy rates.