Description: The worldâ€™s most expensive office markets got a little cheaper this year. More than 130 cities worldwide had declines in rent expenses in the year ended Sept. 30, CB Richard Ellis Group Inc. said in a report today. Almost 50 cities reported declines of more than 10 percent. Rental costs fell about 30 percent in Midtown Manhattan, 53 percent in Singapore and 41 percent in central Hong Kong. Overall, rents fell an average 7.7 percent across 179 markets worldwide.
Questions for discussion:Â
- Summarize the highlights of the story.
- How will this impact the operations of businesses that own real estate for rental and those that do the renting?
- Explain why Brazilâ€™s financing situation is different and how it has impacted business in that country.
- Are there financial lessons to be learned from Brazil? Explain your answer.