Property Leasing Market Sentiment Index in APAC

Most up-to-date real estate survey based on responses from commercial leasing market professionals across Asia Pacific


Asia Pacific Leasing Market Sentiment Index

September 2023

Enquiries and site visits decline
Tenant enquiries and site visits have declined over the past quarter due to limited activity in mainland China and the traditionally quiet summer period. Excluding mainland China, leasing enquiries and site visits were largely robust, with retail the most active sector.
Space demand holds firm
Expansionary demand has strengthened across the office and retail sectors but there was a slight weakening in requirements for industrial space. India and Southeast Asian markets continue to witness robust new set up and expansion demand.
Rental outlook improves
While two-thirds of respondents anticipate no significant change to rents or incentives, most remainder expect rents to increase. Greater China was the only market in which respondents expect rents to decline.
Leasing sentiment picks up
Most markets reported stronger leasing sentiment this month. Sentiment in Japan entered positive territory for the first time since surveys began in 2020. Sentiment in Australia and Hong Kong SAR worsened, while that in mainland China remained negative.

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