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Office Brief - Q2 2024
"New buildings drive rents to historic highsExisting offi ce buildings are actively obtaining green building certifi cations to improve their competitiveness and tenant retention."
Tagged Articles
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"New buildings drive rents to historic highsExisting offi ce buildings are actively obtaining green building certifi cations to improve their competitiveness and tenant retention."
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"Savills Asian Cities report series for 1H 2024 covers 18 cities in 15 countries around the region. The reports take a more in-depth look at how selected property sectors are evolving in the current environment and their future prospects."
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"Shenzhen has enjoyed abundant policy incentives offered by the central government and strong GDP growth at a CAGR of 8.7% from 2014 to 2023."
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"Over the past 12 months, numerous media outlets have highlighted the high office vacancy rates in China’s Tier 1 cities, prompting discussions on the office overbuild and soft demand."
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"Earlier "share houses" in Korea failed to attract a wide group of young adults due to a lack of privacy in shared living rooms, kitchens, and bathrooms."
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"A slowdown in construction has pushed back the completion dates for office buildings across Metro Manila. This translates to a significant bump in completions anticipated for 2024."
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"The Tokyo office market has begun showing signs of recovery after the downturn brought about by the pandemic. As of Q1/2024, average Grade B office1 rents and occupancies have rebounded from their respective troughs seen in Q3/2023 and Q3/2022."

"The Thai economy is projected to grow at an accelerated rate of 3.2% YoY in 2024, with a forecast range of 2.2 to 4.2% supported by private sector consumption and exports."
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"The booming trend of AI technology applications has positioned Taiwan as a crucial player in the global technology supply chain."
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"With the lockdowns instituted to contain the spread of SARs-COVID2 behind us for over a year, one would have believed that the retail sector would have returned to normalcy. "