Greater China leads regional growth in demand for premium office
4 August 2010 Asia — Asia’s leading commercial centres recorded impressive growth in office demand in the second quarter of 2010 as the steady regional economic recovery encouraged multinational companies to reactivate expansion plans suspended earlier after the onset of the global financial crisis, according to a leading international property consultants CB Richard Ellis.
Led by strong growth in Greater China, overall office rents in Asia rose 2.1% in the second quarter of 2010, ending seven consecutive quarters of decline. Overall vacancy declined by 90 basis points quarter-on-quarter to 10.9%. The increased level of enquiry for office space during the second quarter did not immediately translate into leasing transactions. However, this suggests that the leasing market will remain active over the coming quarters.



