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Tokyo Office Supply - June 2021
"Whilst the worst appears to be over, concernslinger over secondary vacancy and future supply"
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"Whilst the worst appears to be over, concernslinger over secondary vacancy and future supply"
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"Rental declines have generally moderated for now, but corporate downsizing continues and 2022 and 2023 threaten a supply overhang."
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"Grade A office rents are expected to continue to consolidate during the first half of 2021 while rental movement in the second half will be vaccine and travel dependent."
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"2020 was a turbulent year for the global economy and whilst the pandemic has undoubtably had some impact on global commercial property markets, the Sydney office market has remained an attractive investment option."
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"Impending new supply with better M&E coupled with the flight-to-quality phenomenon suggest that older buildings might suffer from greater obsolescence in the coming years, leading to a potentially higher vacancy risk."
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"It’s not doomsday for the office sector if we account for the phased expiry of leases, new demand and office buildings being redeveloped."
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"The city has now firmly established itself in the elite club of India’s commercial real estate markets. It will continue to be one of the most preferred office destinations among tech occupiers."
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"A strong government focus on infrastructure spending and investment will help to stimulate economic activity to the benefit of Australia’s commercial property markets."
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"Bangkok’s office occupiers are reviewing corporate space requirements in light of the emergence of flexible-working practices. Landlords are therefore under increasing pressure to lower rents to retain tenants, a challenge likely to intensify as a wave of new office supply begins to enter the market."
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"Following a strong second semester last year, the office market in Jakarta CBD started off the year with a rather soft performance. While enquiries continue to derive from tenants looking for better quality space, net take-up in the first three months fell from a quarter ago."