- Occupancy has increased with positive net absorption of 14,000 sqm. over the 2Q 2022, with landlords offering more concessions and tenants increasingly looking for serviced spaces or even plug-and-play offices.
- The Banking Area prime buildings reported the most demand, followed by the East submarket; the latter has the highest asking rents, up to US$23 per sqm per month for Class A+.
- As the economic recovery continues fueling demand and there are seldom projects ongoing construction, rents are anticipated to remain stable however lower than pre-COVID rates.
Download our Office Real Estate Market Report by filling out the form to get an overview of the second quarter of 2022 and learn more about:
- Market Environment
- Inventory and Availability
- Rental and absorption activity
- Data by Submarkets in the Metropolitan Area