A Cushman & Wakefield Research Publication - 2017 Global Forecast

GLOBAL TOP 25: OFFICE RENTAL RATE GROWTH

RANK PAST 3 YEARS

RENT GROWTH 2014 - 2016

RANK NEXT 3 YEARS

RENT GROWTH 2017 - 2019

MARKET

Dublin

1 2 3 4 5 6 7 8 9

22.3% 16.1% 10.7% 10.6% 10.4%

26

2.8% 4.3% 3.7% 0.8% 4.2% 1.5% 3.3% 6.8% 2.8% -0.4% 4.2% 4.8% 2.9% 3.8% -1.7% -0.1% 2.0% 3.9% 4.3% 1.9% 3.1% 3.6% 2.0% 2.0% -3.4%

Oakland

8

Orange County

18 57 11 48 22 27 72 10 25 14 83 68 39 13 44 23 19 41 40 85 3 5 9

Bengaluru Stockholm

Dallas

9.9% 9.7% 9.0% 8.9% 8.7% 7.8% 7.0% 6.4% 6.3% 6.0% 5.8% 5.6% 5.6% 5.4% 5.4% 5.2% 5.1% 5.1% 5.0% 4.8%

Silicon Valley

Seattle

San Francisco

Shenzhen Portland Madrid Tampa Sydney London Charlotte Chennai Bangkok

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Berlin

Ahmedabad

Houston

Philadelphia Manhattan San Diego

Tokyo

For full list of global rankings, see appendix. *Average annual growth grate, Class A Rank out of 85 markets

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