Press enter

Demand for office space steady in Japan, slows in Australia | 14 May 2013

Demand for global office space is mixed, according to the latest report from Jones Lang LaSalle.

It confirmed that in areas like Australia and Beijing, demand has contracted slightly – yet in Japan and South Korea, it remains steady. Particularly high demand was recorded in Jakarta and Manila, livemint.com reports.

The report also showed that consumption of office space has dropped a little in India, however this falls in line with the area’s economic performance – which was below average last year. Despite this, office leasing activity is likely to be greater in 2013 than 2012, according to Jones Lang LaSalle’s country head for India, Anuj Pari.

“We expect 27.2 million sq.ft. of office space net absorption in CY 2013,” Puri confirmed, cited by moneycontrol.com.

What’s more, the head of Asia Pacific research at Jones Lang LaSalle, Jane Murray, said the office space market in areas like Beijing, Jarkarta and Manila will become “more favourable to landlords” later on in 2013.

At present, landlords feel the need to adopt a “cautious” approach to their rental rates, Murray said, but this should change as local economic growth improves in areas throughout the Asia Pacific territory. “Whilst we think that rental growth will be limited in most markets in the short term, we expect single-digit growth for the full calendar year,” she concluded.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

Share this story
Posted by Matt Roobol

More News

Qube Global Software customers win at the Property Week Awards | 7 November 2017

We are delighted to announce that a number of our customers were crowned winners at the Property Week Management All-Stars awards – held at Grosvenor House, London, on the 2nd November.

Network Homes choose Qube Living | 16 August 2017

Network Homes has chosen to implement Qube Living to support its growing Build to Rent portfolio.

Qube Global Software customers shortlisted at ARMA ACE Awards | 6 June 2017

We are proud to announce that a number of our customers have been shortlisted at the prestigious ARMA ACE Awards.

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close