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Asia Pacific Office Rental Variability Index 2021

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The Asia Pacific office demand declined from 103 million sf in 2019 to 53 million sf in 2020 as occupiers sought to limit cost exposures during the COVID-19 pandemic. 

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 

Speak to our APAC Experts

Dominic Brown

Head of Insight & Analysis, Asia Pacific
Brisbane, Australia

+61 (431) 947161

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Shaun Jenkinson
Shaun Jenkinson

Managing Director, Head of GOS, Asia Pacific
Singapore, Singapore

+65 63178809

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Carol Wong

APAC Lead, Total Workplace
Singapore, Singapore

+65 63178320

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Tom Gibson

Head of PDS, Asia Pacific
Singapore, Singapore

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