Asia Pacific Leasing Market Sentiment Index -
March 2023
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Tenant enquiries and site visits rose during the surveyed period. In Hong Kong SAR, the border re-opening and relaxation of anti-pandemic measures led to more enquiries and inspections. | ![]() |
Expansionary demand grew across all sectors, led by retail and industrial. Hong Kong SAR registered a rise in demand for more space, while India continued to see robust new set up and expansion activity. |
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Incentives weakened across the region in February, particularly in Australia and Korea. Rents continued to recover, led by Korea and India. | ![]() |
Sentiment in most markets improved along with the recovery of expansionary demand. While Asia Pacific remains a tenants’ market, landlords’ negotiation power is increasing. |
![]() |
Tenant enquiries and site visits rose during the surveyed period. In Hong Kong SAR, the border re-opening and relaxation of anti-pandemic measures led to more enquiries and inspections. |
![]() |
Expansionary demand grew across all sectors, led by retail and industrial. Hong Kong SAR registered a rise in demand for more space, while India continued to see robust new set up and expansion activity. |
![]() |
Incentives weakened across the region in February, particularly in Australia and Korea. Rents continued to recover, led by Korea and India. |
![]() |
Sentiment in most markets improved along with the recovery of expansionary demand. While Asia Pacific remains a tenants’ market, landlords’ negotiation power is increasing. |
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Research Contacts

Dr. Henry Chin
Global Head of Investor Thought Leadership
& Head of Research, APAC
Research

Ada Choi, CFA
Head of Occupier Research, APAC
& Head of Data Intelligence and Management, APAC

Cynthia Chan
Director
Asia Pacific
Research

Felix Lee
Senior Analyst
Asia Pacific
Research
Business Line Contacts

Luke Moffat
Regional MD, Head of Advisory & Transaction Services
Asia Pacific

Paul Hubbard-Brown
Managing Director
Asia Pacific
Advisory & Transaction Services

Rohini Saluja
Managing Director
Asia Pacific
Advisory & Transaction Services