Overall net absorption bounced back to positive after eight consecutive negative quarters
The revival of business activities, office leasing demand and rental rates has led to further improvement in vacancy performance in Q3 2021. Overall net absorption rebounded to 70,900 sq. ft., the first positive quarter since Q3 2019, taking the overall vacancy rate to 10.4%. Rental correction continued to decelerate and overall rent edged down by 0.3% QOQ, compared to the drop of 1.6% QOQ in Q2.
Read the latest Q3 office report to find out the sector’s performance and what the recommendations are for landlords and occupiers.