Knight Frank Asia-pacific Prime Office Rental Index

• 31 December 2015
• Local News
• 1139 Views

LITTLE RENT MOVEMENT ON SHOW IN ASIA-PACIFIC PRIME OFFICE MARKET

Knight Frank’s Asia-Pacific Prime Office Rental Index declined 0.7% in the second quarter of 2014, despite a 0.3% drop in the regional vacancy rate

Eight of the prime office markets tracked saw prime rents soften in Q2 2014, with eight equally seeing rental growth; four markets recorded no rental movement.

Half of the markets tracked saw less than 0.5% rental movement, demonstrating less volatility than previous quarters.

Over the next 12 months, Knight Frank expect rents in 14 cities out of the 20 tracked to either remain steady or increase, which is in line with their previous forecasts.

In other Southeast Asian markets: higher asking rents at the newly opened Vattanac Tower and the higher average service charge lifted leasing costs in Phnom Penh; Bangkok, Kuala Lumpur and Ho Chi Minh office markets remained stable; and rents in Hanoi continued to slide as new supply exceeded take-up in Q2 2014.