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Coronavirus Significantly Impacting Hong Kong's Office Market Demand

Coronavirus Significantly Impacting Hong Kong's Office Market Demand

Central's Grade A office rents dropped the sharpest among Hong Kong's core business districts as its vacancy rate reached 4% in January 2020, the first time in more than five years. Read More »


India Logistics Leasing Activity Reaches Record High in 2019

India Logistics Leasing Activity Reaches Record High in 2019

Global commercial real estate consultant CBRE is reporting this week that logistics leasing activity in India reached an historic high of 33 million square feet, increasing by more than 30 percent on an annual basis. Read More »

Continued Social Unrest Pushes Hong Kong's Office Vacancies to Highest Levels in Years

Continued Social Unrest Pushes Hong Kong's Office Vacancies to Highest Levels in Years

As Hong Kong's office market continues to reel from the impacts of the local social movement and economic uncertainties, leasing across all business districts in Hong Kong have been subdued. Read More »

New Global Record Set in 2019 for Number of Supertall Building Completions

New Global Record Set in 2019 for Number of Supertall Building Completions

126 buildings of 200 meters' height or greater were completed in 2019, including 26 "supertall" buildings of at least 300 meters' height, a new world record. Read More »


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Global Property Spotlight

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

The town of Safety Harbor is a secret little hideaway known as the Jewel of Tampa Bay. Safety Harbor is neighbored by the major city of Clearwater, Florida. Read More »

Last Updated February 25, 2020 9:04 AM ET

Asia Pacific Commercial News Property News

Based on new data from global real estate consultancy JLL reveals that Asia Pacific commercial real estate transaction volumes in the third quarter of 2019 have reached a record, bringing the year-to-date activity to a new high of $128 billion.

According to CBRE, Tokyo's All-Grade office vacancy rate was unchanged at 0.7% in Q3 2019. Secondary vacancy arose at some existing buildings; while a small amount of vacant spaces remained in three out of the 10 new buildings completed this quarter.

Global real estate consultant JLL is reporting that several cities in Asia are emerging as competitive real estate markets.

According to the latest research from Knight Frank, office space in North Sydney is in high demand from an increasingly wide range of tenants due to its strategic location, relative affordability and access to transport.

The combined office vacancy rate of Hong Kong's traditional business districts, which includes Central, Wanchai/Causeway Bay and Tsimshatsui, rose above 3% for the first time in 5 years in August 2019.

According to new research by global property consultant JLL, Singaporean real estate investors have emerged Asia Pacific's number one source of outbound capital in the first half of 2019, and their overseas deals are growing in scale and complexity.

Hong Kong's central region office vacancy rate rises to a three-year high as commercial tenants are now delaying expansion plans.

Global real estate consultant JLL is reporting this week that after a bumpy 2018, investment in global commercial real estate cooled in the first half of 2019 with year-on-year volumes dropping by 9% to $341 billion.

Significant changes are in play in Japan's office market in 2019. The three most cited reasons for workplace change were "to accommodate varied work styles", "to improve productivity", and "to improve employee satisfaction."

According to new research by global real estate consultant JLL, smart city initiatives in Asia Pacific will not reach their potential if they focus on delivering cutting-edge technologies without paying enough attention to the needs and experiences of citizens.

Global commercial property consultant CBRE is reporting that in recent years, the main retail areas of Tokyo have seen an increase in pop-up stores - short-term sales spaces aimed to promote new product launches or cater to seasonal demand.

According to global real estate consultant JLL, although the US-China trade war has cast a shadow over Hong Kong's economy, the industrial property market continues to be a bright spot.

Rising cost of leasing prime office space accelerated across the globe due to continued economic growth, job gains and limited availability of prime space in certain markets.

According to global real estate consultant JLL, commercial real estate investment in Asia Pacific was up 14% in the first quarter of 2019, setting a new record of $45 billion in sales volume.

In 2018, flexible workspace centre supply in Kuala Lumpur grew by 36%, making it the fastest growing key city in the APAC region, outpacing fast-growing markets in Gurugram, Chennai, Brisbane, Hong Kong, Sydney and Singapore.

Australia's industrial and office sectors are set to experience the double-digit returns in 2019, making them forecast to be the highest performing asset classes.

Based on JLL's latest whitepaper Shenzhen's Tech Prosperity Drives Office Demand, technology companies are spurring global demand for office space, and this phenomenon is particularly pronounced in Shenzhen, China.

According to Knight Frank's latest Global Outlook Report, Hong Kong will retain its title as the world's most expensive office market despite rents being forecast to decrease in 2019.


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