Commercial Office
Here’s what to expect from Tokyo’s office market for the rest of 2023
Analysts expect its present stable trajectory to continue.
Here’s what to expect from Tokyo’s office market for the rest of 2023
Analysts expect its present stable trajectory to continue.
Tokyo Grade A office rents inch up 0.1% in Q3
And average vacancy rates slightly softened to 3.4%.
Guess which area has the highest Grade B office vacancy rate in Tokyo
The vacancy rate was at 8.2% in Q3, and has been consistently high since the pandemic.
Hong Kong Grade A office leasing volume up 32% to 1m sq ft in Q3
There was a significant level of activity in Kowloon East.
Bangkok to see over 400,000sqm of new office supply in 2024
This is expected to drive the vacancy rate to above 29% next year.
Singapore shadow office space halved to 0.33m sq ft in Q3
It was at a record high of 0.7m sq ft in Q1 2023.
Hong Kong Central office rents to decline by up to 8% this year
Whilst overall rents on Hong Kong Island are expected to fall by 3-5%.
Singapore core CBD office rents expected to grow by 2% for full year 2023
Grade A office rents have already risen by 1.3% YTD.
Hanoi CBD office vacancy rate to reach 25.7% by year-end
This is driven by the upcoming new supply of 64,000sqm.
Hong Kong Grade A office rents to drop by up to 5% in H2
Rents are expected to bottom out in the near term.
Jakarta office rents to continue declining in the next 12 months
But it’s expected to do so at a slower rate.
Brisbane CBD prime net effective office rents up 5.1% in Q2
And PNER in the Near City grew 2.0%.
Delhi to see nearly 6m sq ft of new office space this year
Net absorption is expected to hit 5.6m sq ft.
These are the new office projects to watch out for in Ho Chi Minh City
Projects due in Q4 are making good progress.
Canberra records -3,100 office net absorption in Q2
But this was partly offset by some positive moves in the market.
Bengaluru Grade A office supply drops 51% to 2.31m sq ft in Q2
The secondary business district dominated new completions.
Adelaide adds 21,000sqm to its office supply pipeline in Q2
Thanks to Kyren Group’s Franklin Street project.
Most Read
1. Tokyo overall industrial vacancy rate rises for the first time in two quarters 2. Singapore new private home sales more than tripled in November 3. Hanoi to see 90,600sqm of new retail supply by year-end 4. Two new malls slated to be completed in Kuala Lumpur by year-end 5. Seoul retail rents continue to rise in Q3Resource Center
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