2024-10-28-莱坊-Sydney_CBD_Office_State_of_the_Market_Q3_2024_2页_452kb

Prime net face rents for the third quarter were largely flat across central business district precincts, with a slight increase of 1.8% in Walsh Bay/Barangaroo. However, incentives rose to 36.4%, leading to a 0.4% decline in net effective rents.

Tenant demand was primarily driven by professional and financial services, accounting for 66% of leasing activity, with a focus on the core precinct, which made up 60% of lease deal volumes year-to-date in 2024.

Development completions by year-end are projected at 184,271sqm, mostly from over-station developments totaling 154,705sqm across three buildings, with 82% already pre-committed.

Yields remained stable at 6% for the second consecutive quarter, indicating they have likely peaked. Book values have fallen behind market sentiment and are still adjusting.