Cresa Releases 2018 Global Occupier's Guide
As global companies realize the importance of having a unified approach to their real estate needs, the need to understand local market practices and business traditions is greater than ever. Our global team of real estate advisors are market experts and allow us to present this report as a resource to educate occupiers on worldwide office leasing practices.
Our global platform is unique, as all Cresa offices are committed to our occupier-centric model, and in some cases are introducing the model to their market. We have found that the combination of the Cresa platform combined with local market knowledge results in the best global outcomes for our clients. We are pleased to share our local market knowledge in the 2018 Global Occupier's Guide.
Out of the 34 countries surveyed, we found:
• Outside of Europe, rents that are not quoted in native currency are quoted in USD. This is helpful to global companies that may struggle with understanding real estate costs in relation to ever-changing currency conversion rates.
• In 70% of cases, occupiers should expect to contribute to the real estate commission as a split with the landlord, or, in some markets, the entire fee. A local advisor can provide immense value when negotiating a lease and make sure that the priorities of a company, whether its lease flexibility or favorable renewal options, are properly negotiated and recorded in a lease that abides with local regulations.
• 55% of countries have rental escalation tied to an economic index such as CPI, HICP, or Euro MUICP. A local advisor can stay on top of these changing indexes and can conduct lease audits to confirm that escalations are properly assessed. Check out the glossary starting on page 47 for additional information about these indexes.
If you have global real estate needs, Cresa will coordinate with our local experts and work with you to make sure your assignment is handled seamlessly. We understand global business environments – language, currency, economic climate, government regulations, and business customs – and we have the knowledge and contacts to get things done.
Click here to read the full guide.