Malaysia, 2 June – Knight Frank, the independent global property consultancy, recently launched the Asia Pacific Prime Office Rental Index for Q1 2016. The index monitors the prime office rents in 19 cities across Asia Pacific, of which 12 cities registered positive rental growth in Q1 2016, up from 8 in the previous quarter.
Results for Q1 2016
- Knight Frank’s Asia Pacific Prime Office Rental Index grew 1.0% in Q1 2016, accelerating from 0.2% in the previous quarter, as the average vacancy fell by 0.2 percentage points.
- Domestic leasing demand arrested rental decline in Beijing.
- Tokyo saw the highest rental growth, as the prime vacancy rate remained at a multi-year low.
- Going forward, we expect rents in 14 cities to increase or remain steady over the next 12 months.
Mr Nicholas Holt, Head of Research for Asia Pacific, says, “While the macro-economic story across the region remains uncertain, office markets have tended to see rents hold up fairly well over recent months. Despite our longer term forecasts suggesting we are nearer to the top of the rental cycle in many markets, the next 12 months will see further rental growth in the majority of markets tracked as tight supply and steady demand prevails.”
Asia-Pacific Prime Office Rents
Source: Knight Frank Research / *Sanko Estate
To download the full report, please visit: