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  • Writer's pictureZiggurat Realestatecorp

CBRE: Asia Pacific Figures Q3 2021

Office: While regional Grade A net absorption increased by 28% q-o-q to reach 13.7 million sq. ft., leasing volume remains some way below pre-pandemic levels. Leasing activity was dominated by relocations as occupiers capitalized on cheaper rents. Tech and finance remained the primary sources of demand.

Retail: Although leasing sentiment gradually improved this quarter, many retailers have pushed back their expansionary plans to 2022. The F&B sector continues to dominate leasing activity. Selected luxury retailers were seen exploring upgrading opportunities in a few North Asian markets.

Logistics: Despite disruption to manufacturing and container shipping, strong requirements for safety inventory and omni-channel distribution ensured overall logistics demand remained resilient. Asia net absorption reached a record high 27.4 million sq. ft..

Investment: While investment turnover fell 21% q-o-q to US$32 billion, this figure was still 21% higher than the same period of 2020 and is close to 2019’s quarterly average. REITs, property funds and property companies were among the major buyers this quarter.

Q3 2021 APAC Figures_FINAL
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Source: CBRE

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