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Sign in Sign up for a FREE subscriptionAsia Pacific office absorption falls in first quarter
Asia Pacific regional net absorption in the office sector fell from fourth quarter 2021’s 15.4 million square feet to 11.8 million square feet net floor area in first quarter 2022, according to CBRE, primarily due to weaker leasing activity in mainland China.
Regional office demand continued to be driven by flight-to-quality relocations and tech firms. Rents increased by 0.3 percent quarter-over-quarter, marking the first quarterly growth since second quarter 2019.
To read the full regional report, click here.
