Sydney and Melbourne rents to outpace metropolitan heavyweights

The prime office rental markets of Sydney and Melbourne will experience some of the fastest growth in the world during 2019, according to Knight Frank’s Global Outlook Report 2019. 

The report indicates rents are expected to rise 10.1 percent in Sydney and 8.6 percent in Melbourne, outpacing metropolitan heavyweights such as Amsterdam and Berlin. It follows prime rent increases of 11.9 percent in Sydney and 13.9 percent in Melbourne over the past year.

On a global stage, Sydney and Melbourne rank seventh and 21st, respectively, among the world’s most expensive office markets. The Knight Frank report also found that Hong Kong will retain its title as the world’s most expensive office market despite rents being forecast to decrease in 2019.