Respondents to the Q2 Asia Pacific Commercial Property Monitor indicated that regional sentiment remained downbeat in Q2. The RICS Commercial Property Sentiment Index* (CPSI) fell from -31 in Q1 to -38 in Q2, the lowest reading since the Global Financial Crisis. As can be seen in Chart 1, the results from Asia Pacific are in line with those from the Americas (-38), Europe (-36) and the Middle East and Africa (-39).
Chart 2 shows China was the largest contributor to the downbeat sentiment in Asia Pacific. However, this is largely due to its large regional weighting in the index (China represents 48% of the Asia Pacific Index). The CPSI was firmly negative in every Asia Pacific country tracked by this survey. Chart 2 also shows a deterioration in conditions in Australia, India, Japan and elsewhere in APAC (including Hong Kong and Singapore).
