Tenant enquiries and site inspections rose in almost all major markets this month.
- Mainland China was the lone exception due to the Chinese New Year holiday.
- Flexible space demand remains steady. Around 65% of respondents to February’s survey stated they had not detected any major change in demand for flexible office space.
- Downward pressure on rents is gradually easing while the rise in incentives is slowing.
- Leasing sentiment turned positive in February for the first time since surveys began in July 2020. Landlords’ negotiating power remained at similar levels to the previous month.
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