Asia Pacific’s office leasing markets remain remarkably resilient despite global headwinds, with top-tier rents climbing in key cities and leasing volume hitting new highs.
CBRE’s Asia Pacific Office Trends Q1 2026 report, finds that;
In Greater Tokyo, chronic undersupply and robust domestic demand have kept vacancy exceptionally low, pushing rents higher.
Singapore carried positive momentum into 2026, underpinned by record-low vacancy and strong demand from finance and tech firms.
India emerged as a standout growth story in the quarter. CBRE highlights that office leasing in India hit a record high in 2025, driven by broad demand from global capability centers (GCCs) and domestic corporates, and this momentum has carried into early 2026.
The report explains, India’s office market reached a significant milestone in 2025 with leasing volume achieving a record annual high for a third consecutive year, noting especially active leasing by life sciences, financial, and tech firms.
Concerns over rising construction and fit-out costs for instance, several Southeast Asian markets have adopted work-from-home policies to conserve fuel have so far not derailed demand, with most occupiers moving quickly to secure space before conditions tighten further.
“Asia Pacific’s office market remains resilient despite stronger geopolitical headwinds,” CBRE Head of Office Leasing Asia Pacific Richard Stevenson concluded. The firm says companies are generally prioritising high-quality, core assets (often in central business districts), which is keeping demand and rents high in those areas.
As one effect, a growing number of lease contracts in Japan now include CPI-linked rent clauses to manage future inflation.
Overall, CBRE predicts that occupiers in the region will continue to compete fiercely for limited prime office space, supporting rental growth in markets like Tokyo and Singapore even as global uncertainties linger.
