The Office Index: Q4 2020

Leasing market still challenging but some signs of stabilisation

February 24, 2021

Highlights from the report include:

  • Economic uncertainty, and softening demand coupled with large supply volumes are likely to maintain downward pressure on rents
  • Capital values continued to fare better than rents in part because many investors have taken a longer-term view. Asia Pacific capital values were flat in 4Q20 in aggregate.
  • We expect to see investors with longer term horizons continue to shore up capital markets. The combination of abundant liquidity, access to debt and low interest rates should see Asia Pacific capital values fall more slowly than rents, declining only 1% in 2021.

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