Asia Pacific Office Q4 2022
Investors highly selective due to rising borrowing costs and heightened uncertainty
Highlights from the report include:
Asia Pacific leasing activity picks up over the quarter, however, leasing volumes are 30.8% lower than the same quarter in 2021.
Despite occupier-favourable conditions, Asia Pacific rents decline only 0.1% q-o-q in aggregate as demand for space in high-quality buildings help to shore up rents.
The gap between buyer and seller expectations is unlikely to close in 2023, with exceptions in select markets, and capital values are forecast to decline 0.7% in aggregate in 2023.