Office

"Downsizing by MNCs was partly offset by demand from the latest generation of New Economy companies."

"Rental corrections in Japan’s office market have slowed over the past few quarters, suggesting that an equilibrium point might soon be reached. While uncertainty in the global economy is likely to slow recovery, Japan’s market should gradually approach normalcy."

"Growth in the tech sector is nearly six times larger than growth across the whole economy, with Bristol gaining a reputation as one of the UK’s fastest-growing tech cities"

"Positive market sentiment returning as active requirements reach record level"

"The office remains an important part of the work environment, and newer offices in good locations are still highly sought after. While the hybrid working model has proliferated across multiple industries, most companies intend to gradually increase their in-office attendance as long as the state of the pandemic stays manageable."

"Even in today’s tough market conditions there are still tenants taking space and lot will depend on the return of PRC demand next year, particularly in core areas."

"With high vaccination rates and the plummet in COVID-19 cases, the softening sentiment seen in the market over this year seems manageable. Like Tokyo, prime assets remain mostly occupied and have seen few corrections in rent, while buildings with poor access are suffering, resulting in the overall deterioration of market rents and vacancy. However, each region’s fundamentals and prospects look different."

"Rental declines were milder in Kowloon with vacancy gradually absorbed after the aggressive rental adjustments of late last year. "

"Rents for well-located and newer offices are likely to remain stable while older offices with poor accessibility will struggle. This trend is expected to continue to soften the overall market as a result, although there are some signs of recovery."

"A stable economy will support the demand for offi ce space despite the signifi cant fall in leasing momentum."