The survey, which tracks prime real estate prices in 127 office markets, shows that global rental costs grew by 2 percent year-on-year, indicating slow but steady progress in the office sector.
"Occupier caution has declined and corporate confidence has been on the rise and this confidence is starting to translate into a degree of expansionary momentum," said Richard Barkham, CBRE's global chief economist, in a press release.
"At the same time, many office markets are increasingly short of the quality, modern, flexible and highly accessible or CBD-located office buildings which corporations are seeking to execute workplace strategies that will drive productivity and attract or retain talent."
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Office prices grew fastest in Dublin, Ireland. Costs rose 26.1 per cent to $64.79 per square foot, placing it 43rd.
The largest fall in prices occurred in Moscow, which dropped from 5th place last year to 9th place. Prices declined 22.4 percent to $128.10 per square foot.