APAC Markets Slow Office Leasing Activity
The Knight Frank Asia-Pacific April 2020 Market Bulletin: COVID-19 and its impact on real estate found that in the first two weeks of April, almost three-quarters (or 73%) of the region’s 15 major office markets recorded a decline in leasing activity. Manila, Guangzhou, Shenzhen and Hong Kong wer
Published -
May 21, 2020 5:09 AM
The Knight Frank Asia-Pacific April 2020 Market Bulletin: COVID-19 and its impact on real estate found that in the first two weeks of April, almost three-quarters (or 73%) of the region’s 15 major office markets recorded a decline in leasing activity. Manila, Guangzhou, Shenzhen and Hong Kong were the only four markets that registered stable leasing activity. Many international commercial occupiers were seen to postpone leasing deals, with uncertainty around global demand, supply chains and cash flow leading to a delay in decisions. Key Indian office markets continue to hold steady due to very low vacancy. Key office markets within Gurugram and Noida continue to command premium. While, Bengaluru’s office market was in favour of landlords, in the year 2020. The city office space is expected to tilt towards a more balanced market
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