Brief | Creating Resilience

Asia Pacific Leasing Market Sentiment Index June 2023

June 12, 2023

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While tenant enquiries and site visits remain frequent, momentum cooled from the previous survey. Although enquiries and inspections in mainland China were active, occupiers’ cautious stance resulted in a limited number of actual transactions.

Expansionary demand grew across the office and retail sectors but fell for industrial. Australia and Japan registered a rise in requirements for more space, while India continued to see robust new set up and expansion demand.

Two-thirds of respondents expect rents and incentives to stay flat. The view in mainland China is slightly negative, with rents forecasted to decline.

Despite falling slightly from the previous quarter, leasing sentiment in most markets stayed in positive territory. Sentiment in mainland China remains negative and will take more time to recover.