The office sector has faced a torrent of bad news the past few years and lost its appeal for many investors. But the really bad news has been coming mostly from the United States and Europe. Asia Pacific office? It is not nearly as bad and has more positive trends going forward.
“The office sector is currently undergoing a transition in the US and Europe, and to a lesser extent in Asia,” says Simon Shen, senior managing director and fund manager for Hines.
Despite a global office downturn, there are attractive Asia Pacific opportunities for investors who know where to look and what to look for. “Office fundamentals have generally remained resilient in most key developed Asia markets,” notes Shen. “Our research indicates net office absorption in developed Asia has rebounded above long-term averages.” In particular, with limited to little impact from work-from-home during and post-COVID, overall office demand has stayed strong in South Korea, Singapore and Ja
