US office remains a landlord's market for at least next 2 years: Manulife US Reit

Los Angeles

IT is still a landlord's market for US office market for at least the next two years, even as looming Federal Reserve interest rate hikes and uncertainty over the US election outcome are boggling the minds of investors in the short term.

Unlike in Asian markets like Singapore where there are concerns of excess supply and slowing demand, the fundamentals of the US office sector remain strong, with growing demand outpacing supply and driving up occupancies and rents, said Manulife US Reit manager's chief executive Jill Smith.

"While we are unable to determine the actual ripple effect to be felt from the rate hike and US elections, what we can be sure of is that in the next two years, it will continue to be a landlord's market in the office real estate market simply d…