Paul Ahlgrim, Associate Director of Brokerage Services for Colliers International Myanmar discusses Yangon's office market over the course of Quarter One 2017. 

Ahlgrim addresses the following:

• Market performance
• Market demand for office space
• Major trends observed throughout the quarter

How did the office market perform in Q1 2018?

The office market for Quarter One of 2018 was fairly stable. We saw an average headline rental price have a slight correction downward to a rate of roughly USD$43 per square metre per month citywide.

Can you comment on the market demand for office space during Q1?

We see the demand for office space to remain strong with an increased occupancy level in new developments to 69% which is an increase of 7% from Quarter Four of 2017.

What are the major trends you've observed during the quarter? 

The major trends we are seeing in the market is multinationals moving from off-market buildings and villas into Grade A international standard office space.

We are starting to see the decision makers consider health and safety factors such as earthquake ratings, building safety drills, efficient air conditioning and ventilation systems, and also clean, affordable food and beverage options nearby for their staff. 

Click here to view Paul Ahlgrim's interview on Yangon's Office Market Overview for Q1 2018. 

For more information about Yangon's Office Market phone or email Paul Ahlgrim of Colliers International via the contact details below.

Source: Colliers International

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