Knight Frank Asia Pacific Office Highlights June 2020

Research Date: Wednesday, 17 June 2020
Knight Frank Asia Pacific Office Highlights June 2020 | KF Map – Digital Map for Property and Infrastructure in Indonesia

Since the last edition of this report, most APAC markets have now entered the easing phases of their lockdowns. Commercial leasing activities, sentiment, and enquiries have restarted and are picking ip pace across the region. However, as the markets awake, one things we are watching closely is the amount of sub-lease space and surrender space that is coming onto the market, which will increase supply and put downward pressure on rents. This presents opportunities for occupiers that have healthy financials with longer term views to snap up quality space to better ride out the eventual market recovery. 



Grade A office rents in Jakarta fell 5.1% year-on-year in Q1 2020 as the market continues to digest the excess stock available in the city, while occupancy contracted to 76.2% in the same period; equating to around 1.6 million sqm of vacant stock on the market. Most of the available stock has been concetrated in the Grade B and C buildings, as the flight to quality trend continues in tandem with declining grade A rents. 

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