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."
"In contrast to recent historical experience, price growth for units could potentially outperform houses in the coming years, as the discount for units coupled with strong rental growth and the ongoing demandsupply imbalance for apartments drives stronger capital growth."
"Beijing retail market experienced a positive recovery trend and consumption boom in 2023, boosted by sufficient supply and demand after the three-year pandemic."
"Thailand welcomed 7.2 million visitors in Q3, and this was reflected in the performance of Thai hotel operators and the broader economy."
"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."
"The expanding supply in the Chongqing retail property market in recent years has further intensified market competition. In addition to continuing to optimize the brand and format mix, future business projects need to pay more attention to how to innovate the operation model and enhance competitiveness with higher quality services."
"Despite ongoing challenges, Ho Chi Minh City’s office market remains resilient, poised for a robust rebound to its pre-COVID prowess. The emergence of increased green, Grade A space highlights a promising trajectory for the city’s commercial real estate."