India, China, Japan Lead Asia-Pacific Office Leasing

22 Aug 2025 CW Team

Leasing activity across 11 major APAC markets – including Australia, Hong Kong, Indonesia, Singapore, South Korea and Taiwan – reached 4.5 million square metres (48.4 million square feet) in H1 2025, marking a 9.6 per cent year-on-year rise. Singapore was the standout performer, with demand rising twelvefold compared to last year. The Philippines and Japan also saw strong growth of 56 per cent and 55 per cent respectively.

Supply, however, rose faster than demand, climbing 45.4 per cent year-on-year to 4.8 million square metres (51.7 million square feet). Mainland China, India and Singapore contributed nearly 80 per cent of this new supply, while Australia, New Zealand and Japan recorded annual increases of more than 80 per cent.

Arpit Mehrotra, Managing Director, Office Services, Colliers India, said the APAC office market showed “remarkable resilience” with both demand and supply strengthening despite global challenges. He noted that supportive growth policies and steady occupier momentum position India and the wider region for a strong second half of 2025.

India alone accounted for more than 70 per cent of APAC’s leasing and 48 per cent of its new supply in H1 2025. Domestic occupiers contributed 46 per cent of leasing volumes in India’s top seven cities, underlining robust demand fundamentals.

Vimal Nadar, National Director & Head of Research, Colliers India, said sustained GCC activity, occupier expansion and a diversifying demand base are driving robust demand for Grade A office space. With a strong pipeline and improving macroeconomic conditions, India’s outlook remains positive.

Across the region, companies are increasingly favouring prime Grade A, sustainable offices aligned with long-term ESG goals. Mike Davis, Managing Director of Occupier Services, Asia Pacific, noted that flexibility and sustainability are now central to corporate priorities, with momentum expected to strengthen through the second half of 2025.

While demand is projected to remain healthy, the surge in supply could place upward pressure on vacancy rates. Select high-performing markets may experience rental growth, with investor appetite for green-certified buildings reinforcing the region’s transition to a more future-ready office landscape.

India, Mainland China and Japan dominated office leasing activity across Asia-Pacific in the first half of 2025, jointly driving more than 90 per cent of regional demand, according to Colliers’ Asia Pacific Office Market Insights H1 2025 report.Leasing activity across 11 major APAC markets – including Australia, Hong Kong, Indonesia, Singapore, South Korea and Taiwan – reached 4.5 million square metres (48.4 million square feet) in H1 2025, marking a 9.6 per cent year-on-year rise. Singapore was the standout performer, with demand rising twelvefold compared to last year. The Philippines and Japan also saw strong growth of 56 per cent and 55 per cent respectively.Supply, however, rose faster than demand, climbing 45.4 per cent year-on-year to 4.8 million square metres (51.7 million square feet). Mainland China, India and Singapore contributed nearly 80 per cent of this new supply, while Australia, New Zealand and Japan recorded annual increases of more than 80 per cent.Arpit Mehrotra, Managing Director, Office Services, Colliers India, said the APAC office market showed “remarkable resilience” with both demand and supply strengthening despite global challenges. He noted that supportive growth policies and steady occupier momentum position India and the wider region for a strong second half of 2025.India alone accounted for more than 70 per cent of APAC’s leasing and 48 per cent of its new supply in H1 2025. Domestic occupiers contributed 46 per cent of leasing volumes in India’s top seven cities, underlining robust demand fundamentals.Vimal Nadar, National Director & Head of Research, Colliers India, said sustained GCC activity, occupier expansion and a diversifying demand base are driving robust demand for Grade A office space. With a strong pipeline and improving macroeconomic conditions, India’s outlook remains positive.Across the region, companies are increasingly favouring prime Grade A, sustainable offices aligned with long-term ESG goals. Mike Davis, Managing Director of Occupier Services, Asia Pacific, noted that flexibility and sustainability are now central to corporate priorities, with momentum expected to strengthen through the second half of 2025.While demand is projected to remain healthy, the surge in supply could place upward pressure on vacancy rates. Select high-performing markets may experience rental growth, with investor appetite for green-certified buildings reinforcing the region’s transition to a more future-ready office landscape.

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