In line with this decline in demand, vacancy has increased, and rents have softened across most markets, pushing them towards greater tenant-friendly status and providing occupiers with a window of opportunity in negotiating any forthcoming lease commitments.
However, corporate occupiers need to be aware that these changes may not bring the cost savings that they might expect – some markets may see tenants having to pay more on a new lease than they were paying on the last year of an expiring lease.
In our Asia Pacific Office Rental Variability Index we take a closer look at:
- The current state of play in 36 key office cities across Asia Pacific
- The extent of, and variability in, rental change over the duration of average lease terms at the city level
- Strategies that occupiers might wish to explore to help navigate the impacts of this rent variability
If your office lease is expiring soon and you are heading into negotiations on a new lease, read our Index to identify:
- Which markets in APAC rank high on variability;
- Which are the more stable markets; and
- Where the opportunities are in the region