Asia-Pacific prime office rental index up in 1Q

Knight Frank global head of Occupier Strategy and Solutions, Tim Armstrong said optimism at the start of the year was tempered by resurgences of Covid-19, which resulted in Hong Kong and several tier-1 Chinese mainland markets re-tightening movement restrictions.

KUALA LUMPUR: The Asia-Pacific prime office rental index has increased by 0.8% quarter-on-quarter (q-o-q) in the first quarter of 2022 (1Q22), compared to the 0.3% growth in 4Q21, said independent global property consultancy firm Knight Frank.

In a statement, it said the growth indicates a sustained economic recovery, despite rising inflation and the Russian invasion of Ukraine weighing down the market sentiment.