The Asia Pacific office market is predicted to grow in 2025 with new Colliers’ data showing demand across top markets surging 10.7% year-on-year in the third  quarter of 2024. 

Colliers’ Asia Pacific Office Market Insights Q3 2024 report found Asia Pacific Grade A office demand surged 10.7%  in Q3 2024 year-on-year to 2.2 million sqm as major markets across the  region strengthened, signalling a potentially strong 2025.  

The demand momentum was particularly strong in countries such as India, Australia, New  Zealand and Singapore, with annual growth in office leasing in these markets exceeding 30%.  

Colliers found an overall office vacancy rate across top APAC markets of 14.3% in Q3 2024, with  212.2 million sqm of stock on the market. Supply is further expected to improve in the next  quarter led by significant project completions in major markets. 

Mike Davis, Colliers’ Managing Director of Occupier Services in APAC, said despite some market  uncertainties, office demand in the region was expected to grow modestly in the short term while rentals were likely to remain rangebound. 

“The APAC office market is poised for continued growth as we look to 2025 and beyond, driven  by an evolving understanding of what makes a workspace truly valuable,” Mr Davis said. “Office occupiers’ focus on prioritising both productivity and sustainability, alongside their commitment  to adaptability and innovation, will drive the market forward. 

“The surge in office demand that we have seen in Q3 2024 reflects a dynamic shift as companies seek not just more space but environments that foster productivity and align with sustainable practices. 

“With occupiers increasingly prioritising quality spaces, the focus on green certifications and  sustainable upgrades among developers is intensifying, indicating a shift towards a more resilient and robust office market in 2025.” 

To read the full report, please CLICK HERE.  

Related Readings 

Office Fit Out costs continue to rise across APAC - Cushman & Wakefield 

Lucy Mallick to relocate to Singapore to service the increased demand from the APAC region as capital looks to invest in Australia

Knight Frank expands Capital Advisory presence across Asia-Pacific with key appointments in Australia and Singapore