Demand for office space across Asia Pacific’s top 11 markets surged 15.9 percent annually to 8.8 million square meters (94.7 million square feet), led by India, Mainland China and Japan. The second half of 2024 was particularly strong, with office demand in the region reaching 4.7 million square meters (50.6 million square feet), a 6.1 percent rise compared to second half 2023. Demand growth in second half 2024 was notable in markets such as India and Japan and particularly impressive in Australia, which had a lower base. Leasing activity, however, remained relatively subdued in New Zealand, the Philippines, South Korea, Hong Kong and Taiwan in second half 2024.
Colliers’ latest report, Asia Pacific Office Market Insights Second Half 2024 and Outlook 2025, found the significant increase in Asia Pacific office space demand to be dri
