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
