Cushman & Wakefield 2024 Asia Pacific Office Outlook

Leading Real Estate Firm Releases Comprehensive Market Forecast

Hong Kong, December 12, 2023 - Cushman & Wakefield, a global leader in commercial real estate services, has released its 2024 Asia Pacific Office Outlook report, providing in-depth supply, demand, vacancy, and rent data forecasts for key cities across the region.

Key Findings and Trends

The report highlights several notable trends shaping the Asia Pacific office market, including:

• Continued growth in demand driven by expanding tech and financial services sectors.
• Increased focus on sustainability and wellness in office design and amenities.
• Emerging trends in hybrid working and remote work arrangements.
• Variation in market conditions across different cities, influenced by local economic factors and government policies.

Regional Highlights

Australia: Strong demand and rising rents in major cities, with Sydney and Perth leading the way.

China: Recovery expected in major markets, particularly Beijing and Shanghai, after pandemic-related disruptions.

India: Robust office demand driven by IT and flexible workspaces, with Bengaluru and Mumbai as key growth centers.

Indonesia: Growing demand in Jakarta and other major cities, supported by government initiatives and infrastructure development.

Conclusion

The Cushman & Wakefield 2024 Asia Pacific Office Outlook provides valuable insights for investors, developers, and occupiers seeking to navigate the evolving office market landscape. With its comprehensive data and expert analysis, the report empowers businesses to make informed decisions and adapt to the changing needs of their employees and clients.