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Office rent rate hikes 'set to continue'
26/01/2007 12:53
The cost of renting office space in the UK has risen, new figures from the Royal Institute of Chartered Surveyors (Rics) have revealed.
Office space rental rates rose to 6.2 per cent during 2006, as occupier demand also increased. According to Rics, occupier demand increased by one per cent throughout 2006, with December's figure reaching 3.6 per cent.
Global real estate advisor DTZ has ranked London's City area as the fourth most expensive location in the world to lease commercial property, with the office market in the West End coming out on top of the list.
Rics has claimed that increases in office rental rates are set to continue in 2007, saying: "An upward shift in interest rate expectation has reduced the yield attraction of commercial property and will continue to temper demand during 2007."
With the cost of renting office space going up, experts have claimed that it is becoming increasingly important for businesses to maximise the room available to them.
Using innovative space saving office equipment and positioning office furniture in a way that creates the most room possible have all been recommended as ideal ways to improve the efficiency of an office's layout.
At Paperstone, we offer a range of office furniture that can help your company get the most out of its available space.
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