Asia Pacific Office MarketView Q1 2013 - 1 views
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CBREThailand RealEstate on 15 Jul 13Asia Pacific Office MarketView Q1 2013 07 May 2013 Office demand in Asia Pacific was stable in Q1 2013 with net absorption totaling 7 million sq. ft., the same figure as in Q4 2012. Occupiers remained cautious outlooks, a trend which continued to impact leasing activity across most markets. However, Japan saw a noticeable improvement in occupier sentiment following the election of the Liberal Democratic Party. Hong Kong was the only market to record negative absorption as a sizable amount of secondary space was released to the market. The CBRE Asia Pacific Office Rental Index recorded marginal growth of 0.05% quarter-on-quarter in Q1 2013, a very slight improvement on the 0.14Q quarter-on-quarter decline seen in Q4 2012. Rents have now been relatively flat for the past six quarters. In the current cycle overall Grade A rents peaked in Q2 2013.