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Asia Pacific : Occupiers cautious despite economic recovery - Q2 2014

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The Asia Pacific economy is recovering. A combination of faster export growth, higher domestic production and capital spending is boosting GDP. We expect GDP to grow by 4.3% in 2014, up from 4.1% forecast in May.

However, the economic recovery has not yet translated into a full blown recovery in occupier markets. Net absorption in Asia Pacific recorded a further decline in Q2, while supply increased. As a result, the gap between supply and demand widened.

Office absorption in Q2 was unevenly distributed, with close to one half of activity concentrated in Bengaluru, Tokyo and Shenzhen. Delhi witnessed the largest increase in supply and became the most imbalanced market in Q2. There were a further eight markets where supply exceeded demand and seven markets saw demand contract.

Source : DTZ (Groupe UGL)

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Keywords : DTZ