Office market continues adapting to the pandemic
Some companies are more optimistic about facing the effects of the pandemic, even though uncertainty persists. Enquiries for office space began to increase at the end of 2021. This is seen as a positive sign that businesses needing office space are gradually starting to recover. However, the market is not expected to fully recover in the short term, as there is still remains a lot of unabsorbed space, plus a huge additional supply in the coming years.
Flexibility is still a key word for landlords in the negotiation process. In term of construction, in the future, tenant preferences need to be considered—issues such as green buildings, high quality and wellness-enhancing buildings. From the tenant side, this current situation may allow them to maximise benefits which may not have been previously offered by landlords.
Colliers Quarterly Property Market Report Q4 2021 Jakarta Office