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Asia Pacific office market heated up

CBRE recently announces report on property investment of Asia Pacific region, highlighting many positive signals despite of its cautious forecasts in early this year. For the office sector, the completion of major new high quality projects in China and Singapore, and the high incentives offered in Australia and Seoul, continued to support flight-to-quality and flight-to-value relocation among occupiers. Leasing activity was driven by the technology, media, and telecoms (TMT) sector and domestic financial institutions. In the region’s retail sector, overall leasing sentiment has improved, however, most retailers in Asia Pacific remain cautious, displaying stronger demand for more affordable opportunities. They are taking longer to negotiate leasing terms, conducting due diligence. In China, the luxury market recorded single-digit growth as more high-end consumption stayed within the country. According to Dr Henry Chin, Head of Research, CBRE Asia Pacific, investment performances are divided following each market demand. Singapore and Japan markets record the liveliest investment.