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Sign in Sign up for a FREE subscriptionAsian leasing and investment markets continue to recover
Stable tenant enquiries and steady demand for traditional office space translated to stronger leasing activity in the second quarter 2021, with regional class A office net absorption increasing by 11.7 percent quarter-over-quarter to 10.3 million square feet, according to CBRE.
Flight-to-quality and relocations incorporating upgrading remain a prominent trend. Class A rents continued to contract, albeit at a slower rate, falling 0.6 percent quarter-over-quarter.
Investment activity continued to gain momentum, with investment turnover increasing by 45 percent quarter-over-quarter to $40.3 billion, a figure 25 percent higher than second quarter 2019. Turnover was driven by big-ticket transactions, with deals worth more than $1 billion accounting for one-fourth of total investment volume. Cross-border investment volume rose by 37 percent quarter-over-quarter to $9.2 billion, supported by strong purchasing by Singaporean and North American capital.
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