According to the Colliers analysis, the variance is due to different return-to-office strategies

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A report on the industry by Colliers International has highlighted that office occupancy in the Asia Pacific region is about 80% on average. This is more than North America and Europe where occupancy levels are between fifty% or 65% and 65%, respectively.

According to the Colliers’ report states that this divergence is due to various return-to-office strategies, city functionality as a foundation, ESG compliance, and market reactions to changes in interest rates and inflation changes. This has led to the latest shift in the office investment volume and pricing, as well as global appetite for investment, the company claims.

“Even even as office markets worldwide continue to face problems in the short term, Asia Pacific remains attractive for office investments in the long-term,” says Chris Pilgrim managing director of the global capital market, Asia Pacific.

He says: “The strong underlying fundamentals include the variety of markets, the positive outlook toward offices from a demand standpoint, and robust population-led economies with more robust and robust economic expansion.”

However, the offices market of North America faces weak occupier demand. In the end, there is a vacancy average for this region has increased from 16 to%. The landlord’s ability to provide incentives to boost rents is being stretched.

However, the prime rents for European offices are rising as demand for more luxurious spacesparticularly ESG-compliant onesis rising. “We are witnessing the need to reuse spaces that don’t meet modern requirements as a rising percentage of buildings are in danger of being obsolete,” says Luke Dawson director for global as well as EMEA market development at Colliers. “This is causing the shift of value-add strategies across all markets, and particularly where the emphasis is put on ESG like for instance in UK.” UK.”