Office vacancy rates might go up next year

Vacancy rates in the Metro Manila office market are expected to rise in the next 12 months, as office space might outpace office demand, according to two global real estate services firms.

“While demand from both traditional and BPO office occupiers are seen to grow steadily, all-time highs in office space completion are slated each year from 2015 to 2017, surpassing the projected demand,” Colliers International said.