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With almost 40% of office buildings in Australia in excess of 30 years old, ‘structural vacancy’ is starting to emerge in those buildings without refurbishments, where there is functionally obsolete space that remains vacant for long periods
AUSTRALIA, 18 SEPTEMBER 2013 – Historically, office vacancy rate forecasts have focused on the opportunities and risks to the demand-side of the equation. However, a new research paper by Jones Lang LaSalle argues that in a low demand environment that Australian office markets are currently in, the supply-side of the equation becomes the key variable in determining the vacancy rate outlook.
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