Asia Pacific Office Market Spotlight March 2024
"Despite the bleak outlook for office markets elsewhere in the world, many of Asia-Pacific’s office markets will see positive rental growth this year."
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"Despite the bleak outlook for office markets elsewhere in the world, many of Asia-Pacific’s office markets will see positive rental growth this year."
"It is worth noting that this covers the 'prime-prime' segment of most major property sectors in key cities around the region and should not be confused with the market overall, particularly when comparing market cycles."
"Asia Pacific Investment Quarterly for Q4/2023 covers all major investment transactions of 15 countries around the region."
"Savills Asian Cities report series for 1H 2023 covers 17 cities in 15 countries around the region. The reports take a more in-depth look at how selected property sectors are evolving in the current environment and their future prospects."
"Chennai’s remarkable ascent to the third place in India’s office leasing markets is owing to a dynamic real estate landscape which has played a pivotal role in the country’s commercial office sector growth."
"With robust growth in online retail sales and the expansion of quickcommerce in the open-market sector, the imbalance between supply and demand is expected to be gradually addressed after 2025. "
"Despite strong ongoing macroeconomic headwinds, Lahore’s residential market has grown steadily on the back of strong population growth, rural to urban migration, and interest from both owner occupiers and investors, resulting in steady demand for centrally located developments with high quality finishing and amenities."
"The government, prior to the 2024 policy address, announced substantial changes to Macau’s real estate policy. These modifications focus on two main areas: the elimination of the additional 5% stamp duty for second residential property purchases and the dissolution of the mortgage percentage for local residents in favor of a unified mortgage limit of 70%."
"Metro Manila’s post-pandemic office scene is slowly regaining momentum, with developers focusing on introducing more certified green buildings. Older buildings need to remain competitive, forcing landlords to adapt and invest in strategies that align with changing priorities."
"Beijing retail market experienced a positive recovery trend and consumption boom in 2023, boosted by sufficient supply and demand after the three-year pandemic."