Summary: CBRE’s latest Asia Pacific Leasing Market Sentiment Index reveals that overall leasing sentiment improved across most markets and sectors in Q3 2025:
Office: Occupier sentiment is strengthening as trade tensions ease and office attendance mandates tighten. All markets except for mainland China are reporting an increase in tenant enquiries and inspections. Overall expansionary sentiment is being driven by India and North Asia markets. Aligning with CBRE’s 2025 APAC Office Occupier Survey, more tenants are demanding well-located offices with a superior amenity offering.
Retail: Improving clarity around global trade policy is instilling retailers with greater confidence, triggering more enquiries and site inspections across most markets, except for Singapore. Stronger demand in India and Korea is providing a foundation for landlords to raise rental expectations. However, rising operating costs are prompting retailers to review portfolios and assess whether to relocate underperforming stores.
Industrial & Logistics: Enquiries and site inspections are gaining traction amid the stabilising trade outlook, setting the stage for a potential recovery. Growth markets including India and Southeast Asia remain resilient, while sentiment in Japan and Korea is strengthening on the back of easing supply-side pressure. Despite the uptick in demand, prospects for rental growth remain limited as tenants retain stronger leverage than landlords in negotiations.
