office

"While overall minor rental corrections have persisted this quarter, some offices have seen rents inch up and vacancy tighten at the property level – an ostensible sign of some recovery in the market. Nonetheless, a dichotomy remains between prime offices and poorly located offices, with the latter expected to suffer disproportionately for the time being."

"Extremely low IPO volumes and ongoing border closure have slowed Mainland office demand."

"The pandemic has transitioned into an endemic state, which has created a more optimistic environment for office recovery. At the same time, there are challenges ahead including the large supply of new offices in the pipeline. While a majority of offices appear to be doing well, a handful with bullish rents have high levels of vacancy. As such, recovery will need to be analysed at the property level, and not the submarket level."

"The Tokyo office market remains stable, although submarkets that have had large amounts of supply have shown signs of weakness during the pandemic. Market fundamentals are gradually improving, and this has alleviated some concerns over the supply wave in 2023. In general, quality offices at the right price remain sought after. While hybrid work styles have transformed some office needs, total office demand appears stable. "

"Manchester office market roundup"

"Under offers continue to pick up pace despite subdued levels of leasing activity"