Asia Pacific office leasing demand slowed substantially in Q1 2020 amid severe economic disruption caused by the spread of COVID-19.
A flash survey of occupiers conducted by CBRE from late March to early April found that two-thirds of occupiers had experienced delays to leasing decisions since the onset of the pandemic.
The full impact of the pandemic on regional office fundamentals will become visible in Q2 2020. Corporates, especially multinationals, are expected to remain cautious towards expansion and will focus on cost-saving measures such as lease renewals.
This special edition of Asia Pacific Office Trends provides a summary of the latest travel restrictions, government stimulus measures, rental concessions and occupier activity in key regional markets.
We remain steadfast in providing timely insights and expertise during this unprecedented time.