Asia Pacific Leasing Market Sentiment Index (CBRE)

Tenant enquiries and site visits rose during the surveyed period. In Hong Kong SAR, the border re-opening and relaxation of anti-pandemic measures led to more enquiries and inspections.

Expansionary demand grew across all sectors, led by retail and industrial. Hong Kong SAR registered a rise in demand for more space, while India continued to see robust new set up and expansion activity.

Incentives weakened across the region in February, particularly in Australia and Korea. Rents continued to recover, led by Korea and India.

Sentiment in most markets improved along with the recovery of expansionary demand. While Asia Pacific remains a tenants’ market, landlords’ negotiation power is increasing.

This report was originally published in https://www.cbre.com/insights/briefs/Asia-Pacific-Leasing-Market-Sentiment-Index-March-2023