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Monthly net take-up was -277,100 sq ft, the 12th consecutive month of negative figures.

Metro Manila landlords have become more lenient as they strive to retain contracts.

The COVID shock was most apparent in April as occupancy dropped to 21.8%.

But volumes rose 17% QoQ due to a pick-up in Shanghai, Beijing and Singapore. 

Delhi, Shanghai, Shenzhen and Chengdu will have vacancy rates in excess of 20%.

With the emergence of the third wave of COVID-19, the growth in mass residential capital values slowed to 0.2% m-o-m, compared to a 3.2% increase in the previous month.

But net absorption is likely to be down YoY.

Overall asking rents dropped marginally by 4.5% to MYR 3.42 per sq ft per month.

High street shop rents fell 10.1% in Q2 amidst the hiking vacancy pressures.

Japan, Australia, South Korea, and China likely to see more transactional activity into 2021.

Sydney recorded a total of 476,300 sqm of gross take-up in 2Q20, more than six times higher than the 1Q20 total and more than twice the 10-year quarterly average.

The unsold rate hit 2.8% in Q2 as over 1,700 units remained unsold.

Weighted average APAC rents should fall 5% over 2020.

The most liquid markets were Japan and South Korea.

Meanwhile, occupancy should hold at the lower end of the 96%-98% range.

Aggregate new supply in the 19 APAC cities that Colliers tracks closely reached about 1.42 million square metres in Q2 2020.