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 Office Space Rent, Down 50 Percent

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PostSubject: Office Space Rent, Down 50 Percent   Fri Sep 16, 2011 11:16 am

Colliers Jardine Philippines estimated the total office space stock at the Makati commercial business district (CBD) at 2.6 million square meters as of December 2001; Ortigas CBD, 876,000 square meters; and Alabang, 148,000 square meters.

The vacancy level was estimated at over 17 percent of the total office space stock. Colliers Jardine Philippines said the weighted average rent for an office space in Makati has dropped by nearly 50 percent to about P350 per square meter per month from P686 per square meter per month in 1997. Weighted capital value was placed at P40, 456 per square meter, or nearly 40 percent lower than its 1997 value.
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