Asia Pacific Market Sentiment Survey - September 2020
CBRE Asia Pacific’s September 2020 Market Sentiment Survey summarises current attitudes among office, retail and industrial occupiers in the region. The survey is based on responses from CBRE’s leasing market professionals across Asia Pacific.
Tenant activity improved in September compared to the previous month, led by Mainland China, Hong Kong SAR, Japan, Singapore and Southeast Asia. All of these markets registered an increase in enquiries and site inspections. Korea also saw a steady flow of tenant activity during the survey period.
Downward pressure on rents diminished compared to August but incentives continued to trend upwards. Rents in Hong Kong SAR and Australia experienced the strongest downward pressure while those in Singapore and Korea were stable.
Despite the gradual improvement in tenant activity across the region, overall leasing sentiment remains subdued. Mainland China is the only market where leasing sentiment is positive. Most markets continue to favour tenants and landlords’ negotiation power is limited.