News

Space rationalisation is likely to continue.

Rents in Osaka grew by 2.2% HoH.

Nearly 25,000sqm of new supply will enter the market in 2025 alone.

Positive absorption is expected to persist in the near term.

Supply will be 50% higher than the 10-year average.

Investor interest is still robust in Japan’s office sector.

Only four centres were completed in Q3 2024.Seoul’s challenging project financing market remained prominent. According to a JLL report, in Q3 2024, only four centres were completed, which was fewer than initially speculated. In terms of area, this represented the lowest level in nine quarters, and in terms of number, the fewest in three years.

Newly turned-over units pushed vacancy upwards.

Six new facilities entered the market during the quarter.

And vacancy is expected to decline.

The aging population is impacting supermarket retail sales performance.Hong Kong's retail market is experiencing a significant decline, with total retail sales in the first ten months of 2024 estimated to have dropped by 7.1% compared to the same period last year, according to Knight Frank.

The market will have time to absorb the existing supply.According to data from Cushman and Wakefield, in 2024, the Sydney market saw an addition of 176,000 sqm of new office space, primarily from the completion of the North Tower and South Tower at Metro Martin, which are largely pre-committed.

These units will come from 10 sites on the confirmed list.According to PropNex, the Singapore government has kept up with efforts in boosting private housing land supply in the first half of 2025 (1H 2025) by offering 8,505 units on its upcoming Government Land Sales (GLS) programme under the Confirmed List and Reserve List.

Demand is expected to be weak in 2025.

Thanks to rising occupier demand.According to a Cushman and Wakefield report, between 2023–24, office rents in Delhi NCR showed steady growth, scaling pre-COVID levels.

Thanks to five new residential projects launched during the month.