ASIA PACIFIC Office Market Fundamentals Continue to Improve

Japan and India are among the strongest performers in Asia in terms of economic growth and stability. Office market demand in Tokyo is being driven by strong corporate profits, while in India information technology-related tenants continue to dominate the landscape. Singapore is also benefitting from tech growth, as it tends to be the next destination, along with the Philippines, after India for multi-nationals.

Not surprisingly, rental growth among established markets is expected to be strongest in Tokyo and Singapore, while many emerging markets will experience above-average growth. Across much of China, rents will grow moderately or remain stable.

"While the modest pace of growth in Asia Pacific markets resulted in a subdued leasing environment in 2014, activity is set to gain traction next year, "Most core markets will boast relatively low vacancies through 2015 and 2016, with the exception of cities in Australia, and some emerging markets in China and India."