Phnom Penh Remains Static in Office Index

• 31 December 2015
• Local News
• 754 Views

The Knight Frank Asia Pacific Prime Office Rental Index for Q2 2015 saw Phnom Penh show no growth between Q1 and Q2 2015, indicating a general slowing trend.

The report showed Northeast Asia dominating growth in the region with Tokyo and Shanghai showing the strongest performance.

Throughout Southeast Asia, markets remained fairly robust. Bangkok topped rental growth across the region, with a 3.8 percent increase quarter-on-quarter, as the market continues to defy the political uncertainty still hanging over the country.

In Phnom Penh, rents climbed marginally despite a significant increase in net absorption as landlords vied for new tenants in a more competitive market following the completion of Vattanac Capital Tower.

Singapore and Kuala Lumpur both saw their upward momentums continue, while rents in Jakarta remained steady, as leasing planswere put on hold amid slowing economic growth which hit the lowest rate since mid-2009 in the first quarter of the year.