Asia Pacific Office Q1 2023
Research

Asia Pacific Office Q1 2023

Buyers remain highly selective with rising cost of debt and elevated economic uncertainty

June 13, 2023

Highlights from the report include:
 

  • Heightened macroeconomic uncertainty dampened leasing activity; softer demand as quarterly volumes were down 43% over 1Q22

  • Despite soft demand and rising vacancy, Asia Pacific rents declined only 2% in aggregate

  • Further yield expansion is likely and capital values are forecast to decline 1.5% in 2023

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