According to new CBRE data, Brisbane has emerged as an Asia Pacific leader in the office leasing stakes, ranking second only to Seoul when it comes to growth in the city's tenancy base over the past 18 months.
According to a new survey by CBRE, employees in Asia Pacific are leading the way in the return to the office, with office utilization rates in the region reaching 65%, compared to 50% in the U.S. and Europe.
CBRE Japan is reporting that while commercial real estate transaction volume declined by 20% year-over-year globally in 2022, investment volume in Japan remained largely unchanged, with only a 2% fall from the previous year.
Commercial real estate investment in Asia Pacific in 2022 declined by 27% year-on-year as a tightening interest rate cycle and global macroeconomic uncertainties influenced decision-making.