Asia Pacific Office Q4 2022

Investors highly selective due to rising borrowing costs and heightened uncertainty

March 01, 2023

Highlights from the report include:

  • Asia Pacific leasing activity picks up over the quarter, however, leasing volumes are 30.8% lower than the same quarter in 2021.

  • Despite occupier-favourable conditions, Asia Pacific rents decline only 0.1% q-o-q in aggregate as demand for space in high-quality buildings help to shore up rents.

  • The gap between buyer and seller expectations is unlikely to close in 2023, with exceptions in select markets, and capital values are forecast to decline 0.7% in aggregate in 2023.

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