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Asia Pacific Offices MarketView Q2 2011

By on Aug 10, 2011 in Research

Overview


• Expansionary demand focuses on China whilst flight-to-quality increases
Demand for prime office space in Asia Pacific continued to grow in the second quarter with corporate remaining focused on expanding in the key Greater China markets. However, further deterioration of the economic situation in the United States and Eurozone would have a knock on effect on the regional economy. The period saw a significant increase in flight-to-quality activity, particularly in newly launched high-profile buildings and other iconic projects currently in the pipeline.

• Rental growth moderates in Asia but gathers momentum in the Pacific
The CB Richard Ellis Asia Pacific Office Rental Index rose 3.7% q-o-q in the second quarter thanks to robust occupier demand. Rental growth slowed in a number of Asian markets but falling vacancy in Australia provided rents with a boost. Greater China continued to enjoy the strongest growth in the region with rental increases in Beijing and Guangzhou exceeding expectations.

This is an extract from Asia Pacific Office MarketView Q2 2011, to read the full document please click here.

Chris Hardy has extensive research experience. Chris specializes in property research internationally writing for CBRE specifically about global issues and trends.

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