{"id":1004153680,"date":"2016-09-27T05:11:17","date_gmt":"2016-09-27T13:11:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004153680"},"modified":"2022-12-08T13:45:16","modified_gmt":"2022-12-08T21:45:16","slug":"economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\/","title":{"rendered":"Economy Watch: Emerging Tech Hot Spots to Enjoy Office Rental Growth"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004147030\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004147030\" data-attachment-id=\"1004147030\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\/austin_img_5397\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg\" data-orig-size=\"650,325\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 5s&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1452410235&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.15&quot;,&quot;iso&quot;:&quot;320&quot;,&quot;shutter_speed&quot;:&quot;0.041666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Austin_IMG_5397\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Austin is an emer&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg?w=650\" class=\"size-medium wp-image-1004147030\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg\" alt=\"Austin is emerging as one of the top cities attracting tech talent.\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg 650w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg?resize=300,150 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004147030\" class=\"wp-caption-text\">Austin is emerging as one of the top cities attracting tech talent.<\/p><\/div>\n<p>Rental growth for office space isn&#8217;t over yet, according to a new report by NGKF (NGKF and Knight Frank\u2019s <a href=\"https:\/\/ngkf.com\/globalcities\/NGKF-Global-Cities-2017.pdf\" target=\"_blank\" rel=\"noopener\">2017 Global Cities Report<\/a>). In some places, that is. Investors will need to focus on emerging tech hot spots around the world to find such growth, with the highest rental growth over the next three years in places where tech companies look to grow by taking advantage of high concentrations of creative talent.<\/p>\n<p>U.S. cities are among the top places for emerging tech talent, and thus for rental growth between now and 2019, but Sydney actually leads the pack. Office rents in Australia&#8217;s largest city are forecast to increase by 27.5 percent over the three-year period, followed by Berlin and Austin, both of which will experience rental growth of more than 20 percent (25 percent and 24.9 percent, respectively). Rental growth will be less pronounced in mature tech markets such as London (7.1 percent) and San Francisco (5.1 percent).<\/p>\n<p>As recently as three years ago, San Francisco, New York and London were leading tech expansion, but now NGKF and Knight Frank report that a new wave of cities are taking their places as emerging tech markets, including such places as Berlin and Austin (and Madrid). These cities are able to attract and retain &#8220;the iPhone generation,&#8221; as the report puts it.<\/p>\n<p>U.S. cities that will enjoy double-digit office rent growth by 2019, noted the report, are Seattle (up 17 percent), L.A. (15.9 percent) and Boston (11.1 percent). Other cities around the world forecast\u00a0to see double-digit rental growth over the next three years are Melbourne, Shanghai, Dublin, Mumbai, Tokyo and Paris.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new wave of cities are attracting top tech talent and therefore seeing rising office rents, a new NGKF report reveals. <\/p>\n","protected":false},"author":1023,"featured_media":1004147030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742,21747],"tags":[],"class_list":["post-1004153680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Emerging Tech Hot Spots to Enjoy Office Rental Growth - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Emerging Tech Hot Spots to Enjoy Office Rental Growth\" \/>\n<meta property=\"og:description\" content=\"A new wave of cities are attracting top tech talent and therefore seeing rising office rents, a new NGKF report reveals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-27T13:11:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:45:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Austin_IMG_5397.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"325\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/\"},\"author\":{\"name\":\"Dees Stribling\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"headline\":\"Economy Watch: Emerging Tech Hot Spots to Enjoy Office Rental Growth\",\"datePublished\":\"2016-09-27T13:11:17+00:00\",\"dateModified\":\"2022-12-08T21:45:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/\"},\"wordCount\":299,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/06\\\/Austin_IMG_5397.jpg\",\"articleSection\":[\"National\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-emerging-tech-hot-spots-to-enjoy-office-rental-growth\\\/\",\"name\":\"Economy Watch: Emerging Tech Hot Spots to Enjoy Office Rental Growth - 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