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.
According to JLL's latest Hong Kong Property Market Monitor report, despite lingering uncertainty surrounding the global economy and a slumping local stock market, co-working operators remained a major source of demand in the office leasing market in December last year.
Global commercial real estate consultant JLL is reporting this week that Asia Pacific's overall real estate transaction volumes in 2019 are expected to rise by five per cent, though the pace of growth momentum will slow down.
According to CBRE, recentralization and a flight to quality are helping to drive an uptick in Brisbane's prime CBD office market, underpinned by record levels of investment in new development projects.
According to a new report from global real estate consultant JLL, Hong Kong's Central District has the world's most expensive rent for premium offices for the fourth year running.
According to JLL's latest Hong Kong Property Market Monitor, rents in the overall Grade A office market continued to rise albeit at a slower pace last month. Average rent of Grade A office climbed 0.5% m-o-m in October, compared to a 1.0% m-o-m growth in September 2018.
According to new research by CBRE, real estate debt in Asia Pacific is increasingly cementing itself as an alternative investment class as global investors seek new opportunities to deploy capital into this sector.