Prime office space demand rises globally and in Brisbane

Global and regional trends indicate rising demand for high-quality prime office space. Research from Savills shows that in the first half of 2026, approximately 58% of the largest leasing deals involved organizations expanding their footprints. AI-driven companies have become significant contributors to this growth, accounting for 17% of prime office deals involving technology firms—a substantial increase from 3% two years prior. This demand is particularly concentrated in innovation hubs such as San Francisco, Seattle, and London.

In Brisbane, the CBD office market is experiencing strong rental growth. Knight Frank reports that prime gross effective rents grew by 7.3% in the year ending June 2026, outpacing the 10-year average of 4.5%. Due to a lack of new supply expected through 2026 and limited completions through 2028, vacancy rates are projected to fall, potentially dropping below 10% by 2028. Leasing activity in Brisbane has been led by the professional services sector, specifically legal, architecture, and engineering firms.