Market rebalancing
Highlights from the report include:
- Quarterly net absorption saw a slight improvement this quarter on a q-o-q basis. Notably, Tokyo saw an increase in demand from 3PLs and e-commerce retailers for facilities in prime locations.
- While vacancy fell slightly to 11.5%, the high vacancy environment persists across the region.
- Varied investment activity was noted across the markets. Investment activity picked up in Seoul, and demand was strong in Tokyo, Sydney and Singapore. Meanwhile, no major transactions were noted in Greater China.