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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