Commercial Office
Singapore prime office occupancy rate rises for the first time since COVID hit
Singapore prime office occupancy rate rises for the first time since COVID hit
Occupancy rate in the Raffles Place / Marina Bay precinct reached 94.3% in Q2.
Australia’s office leasing markets show signs of recovery in Q2
One of the demand drivers were tenants seeking small spaces of less than 1,000sqm.
APAC office rental declines in Q2
The APAC Prime Office Rental Index declined by just 0.8% despite Delta variant outbreaks.
Hong Kong office take up records first positive quarter since 2018
Quarterly net-take up in the CBD rebounded to 6,350 sqm in Q2, the first positive quarter since Q2 2018.
3 in 10 APAC firms to increase office space in the next 3 years
51% also expect to move headquarters in the same time frame.
This region will be a major player in Tokyo’s office market
The area attracts tech giants such as Microsoft, Samsung, and Amazon.
New Delhi’s net office absorption plummets 67% in Q2
There have been very few fresh leasing and some spaces are being vacated.
Tokyo Grade A office rents down 1.7% in Q2 as secondary vacancies emerge
Demand from big firms declined as more employees work remotely.
Mumbai’s gross office leasing volume drops 51% to 0.78 msf in Q2
The Malad-Goregaon submarket accounted for 22.5% of the overall leasing activity.
Jakarta tagged as the most variable market for office rents in APAC
Between 2010 and 2015 rents in Jakarta more than doubled and then subsequently tumbled by 30% over the next five years.
Here’s a rundown of how APAC office rents will fare for the rest of this year
Rents are forecast to decline by an average of 1.7% across the region.
Singapore Grade A office vacancy rate hits record high since 2018
Vacancies reached 4.6% in Q2 2021, the highest since the 4.9% rate recorded in Q1 2018.
Cambodia real estate takes sharp turn in H1
An increase in COVID-19 cases led to more than 70% decreases in prime office and retail occupancy in Cambodia.
Australia’s office property sector “surprisingly resilient” amidst pandemic: Savills
Several big-ticket deals signal investor confidence in the sector.
Hong Kong Grade A office rents slip 2.6% in Q2
Hong Kong Island rents saw the lowest rate of decline since Q1 2020.
Seoul sees robust office space demand from tech occupiers
Firms may consider Seongsu-dong, Guro and Gwacheon as new locations for expansion.
Hong Kong records positive office absorption for the first time since 2019
Overall net absorption was 116,300 sq ft in May.
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