Savills: 85% of top global occupier deals for the same amount or more space; tech occupiers remain resilient

Analysis of a sample of the largest public deals for prime office space in second half 2023 across Savills’ prime office costs markets shows that 85 percent were for the same amount or more space, and that the tech sector was the second most acquisitive type of occupier, defying expectations that companies are surrendering space and that tech is in a period of retrenchment.

Savills said that only 15 percent of the 163 deals it examined featured an element of consolidation, while 45 percent were for the same amount of office space (renewal/relocation) and 32 percent involved taking more space (expansion/expansion and