
Office Brief - Sep 2023
"Demand for smaller requirements recovers Space for rental negotiation is limited in the premium offi ce sector given low vacancy rates and modest increases in rents."
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"Demand for smaller requirements recovers Space for rental negotiation is limited in the premium offi ce sector given low vacancy rates and modest increases in rents."
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"Savills H1/2023 Market Brief highlights that Ha Noi's apartment market remains soft given low stock level and high selling prices. The gap between income and apartment prices is increasing, which limits purchasing power."
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"In H1/2023, authorities at many levels have been working to resolve difficulties in the real estate market. "
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"The Philippine Gross Domestic Product (GDP) grew by 6.4% in Q1/2023 – its slowest since the economy rebounded in Q2/2021. Domestic consumption took a massive hit from rising interest rates as it started to decelerate to 6.3% YoY from 8.3% in 2022. "
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"In 2022, Malaysia’s economy experienced a significant rebound alongside the country’s transition into an endemic phase and the reopening its borders, beginning 1st April 2022. However, at the start of 2023, the pace of economic growth started to moderate. "
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"Co-living is defined as a form of rental housing which includes shared living rooms and kitchens apart from private rooms within a single building."
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"The tourism industry has played a significant role in the economic recovery of Macau. The city’s gaming revenue saw an astounding YoY growth of over 300%, reaching 49.3 billion in the first four months of 2023. Moreover, statistical data as of April 2023 indicates that the rebound in gaming revenue has exceeded the quarterly target and is expected to continue its upward trend."
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"After a period of exceptionally strong growth coming out of pandemic restrictions, consumer spending is slowing as the impact of higher interest rates and inflation begin to bite. Nominal retail sales rose by 0.4% in March, with annual growth slowing to 5.4%, down from a peak of nearly 20% in mid-2022, and the slowest growth rate in 18 months."
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"Chengdu’s GDP reached RMB2,082 billion in 2022, an 2.8% increase YoY, and the total economic output exceeded 2 trillion for the first time. The tertiary industry growth value reached RMB1,382 billion, up 1.5% YoY."
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"Pakistan’s macroeconomy in the first half of 2023 continued to face challenges as inflation soared to 36.4% in April and the interest rate remained at a high of 21%."