Asia Pacific Q4 2024 Office Highlights

Despite the overall trend of declining prime rents in Asia-Pacific, much of the weakness is largely concentrated in Chinese mainland markets. The rest of Asia-Pacific is still expected to see moderate increases of 1 to 2%, with leasing volumes anchored by markets in India. 
 
Looking ahead, the Asia-Pacific office market is poised for significant changes in 2025, with a 7% increase in supply of prime Grade A office space expected, up from 4% in 2024. Over 40% of the region's new supply will be delivered to mainland Chinese markets.