市场前景

Asia Pacific Economy

Outlook bright but headwinds grow

The region’s economy remains resilient in the face of new challenges with 2017’s momentum carrying on. Economic sentiment is favourable with data releases pointing to a continued healthy performance despite equity market instability and ramping up of protectionist rhetoric. 

Although trade tensions have dominated headlines in the early part of the year, as the US looks to impose new tariffs on imports, most economists still believe that the probability of a full-blown trad war is low at this time.

In Q1 2018, the average Grade-A office rent dropped to RMB9.6 per sqm per day (see Table 1).

Due to weak leasing demand and the huge amount of new supply, the overall Grade-A office vacancy rate increased 1.8 percentage points to 6.1% quarter on quarter (Q-o-Q) (see Table 1).

With the departure of some major tenants…

In Q1 2018, the average Grade-A office rent dropped to RMB9.6 per sqm per day (see Table 1).

Due to weak leasing demand and the huge amount of new supply, the overall Grade-A office vacancy rate increased 1.8 percentage points to 6.1% quarter on quarter (Q-o-Q) (see Table 1).

With the departure of some major tenants, the average rent in Core CBDs decreased to RMB11.6 per sqm per day, a Q-o-Q drop of 3.3%.

In Q1, the net absorption in Shanghai’s Grade-A office market was approximately 66,420 sqm (see Figure 2), of which only 19,000 sqm was recorded in Core CBDs. The vacancy rates in Pudong and Puxi increased 2.3 and 1.5 percentage points to 5.9% and 6.3% respectively

在过去的一年里，住宅房地产在前几年推出的关键监管改革之后，书写了发展史上的新篇章。与 2017 年相比，2018 年七大重点城市的销售额增长了 42%，推盘量增长了 53%。. 

While the region’s economy has faced some headwinds in 2018, the majority of real estate markets remain dynamic with investors and occupiers both continuing to be active. Heading into 2019, cooling measures, rising interest rates and slowing sentiment is likely to weigh on residential markets, while trade tensions could influence decision making for corporates looking at office space. Structural changes are also likely to continue as co-working and coliving become more commonplace across the APAC markets.

布里斯班中央商务区的下一步发展方向是什么？

Prime rents experience positive growth. Click on the Download button for more information on the:

• 经济指标
• 优质毛有效租金 
• 供应管道
• Key leasing transactions Q4 2018

In 2018, around 20 leases of ≥5,000 sqm were formalised. Demand came from both the public and private sectors, and was supported by lease expiries, strong business confidence and nation-leading state final demand and population growth. While many of these leases were precommitments for 2020, near-term demand for space has also been strong and is expected to stay that way in 2019, holding vacancy at 3-4%.

Landlords in Melbourne’s fringe office markets have been undertaking capital expenditure to aid in tenant attraction and retention. Upgrades have included end of trip facilities, lobbies, lifts and HVAC (Heating, Ventilation and Air-Conditioning). The upgrades have helped attract new tenants such as JB HiFi and Asahi and contributed to multiple renewals over past six months.

With Circular Quay Tower, Quay Quarter Tower, Wynyard Place, 60 Martin Place, the Light Rail and Sydney Metro among the major projects underway, Sydney CBD office workers have grown accustomed to the sights and sounds of billions of dollars worth of construction work. 151 Clarence Street (22,000 sqm) reached completion in Q4, but major new developments are still at least a year away, ensuring that Sydney’s lack of contiguous floor space continues for some time to come