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."
"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."
"While not immune from slower growth and changing work place practices, we have reason to believe that office demand in Asia Pacific is better underpinned than it is in either Europe or North America."
"The latest Spotlight: Savills Prime Office Costs (SPOC) has revealed that pricing for prime offices around the world (in US$) has largely held steady in Q1/2023."
"Flight to quality is driving a divergence in the pace of rental growth across cities, precincts, and property grades."
"It is worth noting that this coversthe '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."
"As the COVID-19 pandemic recedes, workers have once again returned to offices across most of Asia Pacific. The trend for blended working arrangements (hybrid or remote) is certainly significant, however, and will continue to reshape office demand going forward."
"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."
"Chennai saw leasing driven by small-sized (< 25,000 sq. ft.) deals and recorded pre-commitments by Technology and Engineering companies. "