FEBRUARY 2022
Summary points of Figures:
Office: Regional net absorption fell slightly q-o-q to 13 million sq. ft. NFA in Q4 2021 during what is traditionally a quiet period for leasing activity. Regional rental decline further slowed to 0.1% q-o-q as several markets witnessed a return to rental growth, bringing the full-year correction to 1.7%.
Retail: Leasing activity continued to recover as more retailers capitalised on tenant-favoured markets to secure lower rents in prime locations. New demand was dominated by domestic F&B retailers and sporting goods brands. Rents finally stabilised.
Logistics: Occupier expansion accelerated due to stockpiling ahead of the holiday season and increasing demand for space to store safety inventory to mitigate supply chain disruption. Leading Asian markets registered net absorption of 35.0 million sq. ft., the highest quarterly level on record. Rents grew by 1.0% q-o-q.
Investment: Asia Pacific investment turnover rose by 5.7% y-o-y to US$41 billion in Q4 2021, pushing up full-year turnover to US$141 billion, slightly below 2017’s high of US$142 billion. Cross-border investment returned to pre-pandemic levels, supported by Asia Pacific investors’ strong appetite for overseas assets