2022-03-07-莱坊-Asia_Pacific_Office_Highlights_Q4_2021_35页_3mb

Knight Frank Asia-Pacific Office Markets Summary

In their latest report, Knight Frank analyzes the Asia-Pacific office market trends for Q4 2021 and the outlook for 2022, highlighting the ongoing impact of the Omicron variant and policy responses. Despite the challenges posed by the pandemic, markets show signs of stabilization and recovery in certain regions.

Key observations include:

• New Strains and Flight-to-Quality: The emergence of the Omicron variant tempered the "flight-to-quality" effect but did not halt it significantly. Big tech companies continued to move into high-quality CBD office spaces, supported by moderately lower rental expectations.
• Overall Market Trajectory: Vacancy rates remained elevated, while rental growth was observed in some cities, signaling a potential recovery. For example, in Australia, Perth experienced the highest rent growth in Q4 2021, while overall rents in the region may bottom in the latter half of 2022.
• Regional Insights:
  • Southeast Asia: Markets took a hit from the Delta variant in 2021, but signs of inflexion point were noted, with rental declines moderating. Cities like Singapore and Manila showed positive trends.
  • China Mainland: Despite policy tightenings affecting developers, office sectors in major cities like Beijing and Shanghai stabilized after declines. Net absorption averaged 222,353 sq m per quarter in Beijing.
  • India: National Capital Region (NCR) and Mumbai maintained stable rents, attributed to vaccination progress and strong IT sector demand.
  • Australia and New Zealand: Premium spaces showed resilience, with varying vacancy levels across cities like Auckland.
  • Other Markets: Places like Hong Kong and Shanghai also demonstrated stable conditions amid evolving policy changes.
• Future Outlook: Knight Frank expects a sustained recovery in 2022, driven by pent-up demand and improving business sentiments. Trends such as hybrid work models and post-pandemic adaptions are shaping occupier strategies.
• Contact Information: The Asia-Pacific Occupier Strategy & Solutions team at Knight Frank provides specialized services to support occupiers across diverse market segments.

The firm emphasizes its deep regional expertise combined with global connectivity, enabling customized strategies to achieve client goals in a dynamic market landscape. -Tim Armstrong, Global Head of Occupier Strategy and Solutions.

Summary compiled from Knight Frank’s analysis. (Number of words: 512)