Asia Pacific Retail Leasing Sentiment Survey (CBRE)

CBRE’s survey of more than 120 retail leasing market professionals in Asia Pacific reveals that retailers’ expansionary demand remains strong as they seek to revitalise their store networks post-pandemic.

Key findings include:

• 76% of retail brokers reported leasing enquiries for new setups, expansion and upgrading, indicating appetite for more space.
• More than two-thirds reported an increase in leasing enquiries and site inspections in Q1 2024, indicating that regional leasing activity is likely to remain strong in the coming months.
• As vacancy in prime areas contracts further, half of the respondents – the highest proportion since 2023 – expressed the view that retail leasing market dynamics are shifting in favour of landlords.
• Positive retail leasing sentiment across all Asia Pacific markets, with the strongest improvement observed in Japan.
• Retailers across Asia Pacific are displaying a very strong preference for prime core retail space.
• Most retailers plan to retain or increase their real estate budget and store footprint in 2024.
• Amid a global shift in consumer spending towards eating out and experiences, F&B remains the most active retail trade in Asia Pacific, with demand the strongest in Singapore and Southeast Asia.

This report was originally published in https://www.cbre.com/insights/briefs/asia-pacific-retail-leasing-sentiment-survey

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