Knight Frank Asia-PacificOffice Highlights

Highlights

Outlook

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▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2019 2020F

Rent(A$ psm pa)

Vacancy

Market Balance

0%

2%

4%

6%

8%

10%

12%

-

200

400

600

800

1,000

1,200

1,400

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

A$

psm

pa

Rent Vacancy

Highlights

Outlook

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

0%

2%

4%

6%

8%

10%

-

100

200

300

400

500

600

700

800

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

A$

psm

pa

Rent Vacancy

▪

▪

▪

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent(A$ psm pa)

Vacancy

Market Balance

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

Highlights

Outlook

0%

5%

10%

15%

20%

500

520

540

560

580

600

620

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

A$

psm

pa

Rent Vacancy

▪

▪

▪

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent(A$ psm pa)

Vacancy

Market Balance

Highlights

Outlook

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

0%

5%

10%

15%

20%

25%

0

200

400

600

800

1000

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

A$

psm

pa

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent(A$ psm pa)

Vacancy

Market Balance

▪

▪

▪

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

✓Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent(NZ$ psm pa)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

0%

5%

10%

15%

20%

-

2.00

4.00

6.00

8.00

10.00

12.00

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

S$ p

smp

m

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Comp)

Real Estate Indicators

Q1 2020 2020F

Rent(S$ psf pm)

Vacancy

Market Balance

Highlights

Outlook

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

✓

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent (MYR psf pm)

Vacancy

Market Balance

▪

▪

▪

15%

17%

19%

21%

23%

25%

5.4

5.6

5.8

6.0

6.2

6.4

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

MY

R p

sf p

m

Rent Vacancy

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

0%

5%

10%

15%

20%

-

200

400

600

800

1,000

1,200

1,400

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

THB

psm

pm

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent(THB psf pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

0%

2%

4%

6%

8%

10%

12%

-

200

400

600

800

1,000

1,200

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

PH

P p

smp

m

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent (PHP psm pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

0%

5%

10%

15%

20%

25%

-

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

IDR

psm

pa

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent (IDR psm pa)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

0%

10%

20%

30%

40%

50%

-

5

10

15

20

25

30

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

US$

psm

pm

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI

Real Estate Indicators

Q1 2020 2020F

Rent(US$ psm pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

0%

1%

2%

3%

4%

5%

6%

7%

-

50

100

150

200

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

HK

$ p

sf p

m

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Comp)

Real Estate Indicators

Q1 2020 2020F

Rent (HK$ psf pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

0%

2%

4%

6%

8%

10%

12%

2,300

2,400

2,500

2,600

2,700

2,800

2,900

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

TWD

pin

g p

m

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent(NT$ ping pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

0%

5%

10%

15%

250

260

270

280

290

300

310

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

RM

B p

sm p

m

Rent Vacancy

Real Estate Indicators

Q1 2020 2020F

Rent (RMB psm pm)

Vacancy

Market Balance

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

0%

5%

10%

15%

20%

320

330

340

350

360

370

380

390

400

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

RM

B p

sm p

m

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

Real Estate Indicators

Q1 2020 2020F

Rent (RMB psm pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

Real Estate Indicators

Q1 2020 2020F

Rent (RMB psm pm)

Vacancy

Market Balance

0%

5%

10%

15%

20%

25%

150

155

160

165

170

175

180

1Q12 1Q13 1Q14 1Q15 1Q16 Q1 17 Q1 18 Q1 19 Q1 20

Vac

ancy

RM

B p

sm p

m

Rent Vacancy

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

✓

0%

2%

4%

6%

8%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

JPY

tsu

pm

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent (JPY tsubo pm)

Vacancy

Market Balance

Highlights

Outlook

▪

▪

▪

COVID-19 Policies Implemented

✓

✓

✓

0%

2%

4%

6%

8%

10%

12%

14%

28,000

29,000

30,000

31,000

32,000

33,000

34,000

35,000

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

KR

W p

sm p

m

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent (KRW psm pm)

Vacancy

Market Balance

Highlights

OutlookCOVID-19 Policies Implemented

✓

✓

✓

✓

✓

✓

10%

12%

14%

16%

18%

20%

22%

24%

2,000

2,500

3,000

3,500

4,000

4,500

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

INR

psf

pa

Rent Vacancy

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Real Estate Indicators

Q1 2020 2020F

Rent (INR psf pa)

Vacancy

Market Balance

▪

▪

▪

Highlights

OutlookCOVID-19 Policies Implemented

✓

✓

✓

✓

✓

✓

0%

5%

10%

15%

20%

-

500

1,000

1,500

2,000

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

INR

psf

pa

Rent Vacancy

Real Estate Indicators

Q1 2020 2020F

Rent (INR psf pa)

Vacancy

Market Balance

▪

▪

▪

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Highlights

Outlook

COVID-19 Policies Implemented

✓

✓

✓

✓

✓

✓

10%

12%

14%

16%

18%

20%

22%

24%

2,000

2,500

3,000

3,500

4,000

1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20

Vac

ancy

INR

psf

pa

Rent Vacancy

Real Estate Indicators

Q1 2020 2020F

Rent (INR psf pa)

Vacancy

Market Balance

▪

▪

▪

Economic Indicators

2019 2020F

GDP Growth

Unemployment Rate

Inflation

PMI (Mfg)

Continental Europe

United Kingdom

The AmericasAfrica

512 OFFICES

60 TERRITORIES

19,030 PEOPLE

The Middle East

85OFFICES

2,200PEOPLE

21OFFICES

630PEOPLE

183OFFICES

6,585PEOPLE

Asia Pacific

154OFFICES

8,265PEOPLE

67OFFICES

1,270PEOPLE

3OFFICES

80PEOPLE

Sydney

Shanghai

Hong Kong

Singapore

MumbaiDubai

Nairobi

Berlin

Paris

London

New York

SanFrancisco

GatewayCities

We’re here for you

Our Approach

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Our teams are on the ground across all major APAC markets, providing impartial advice and tailoring bespoke solutions for occupiers of offices, industrial and retail property across Asia-Pacific.

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The Asia Pacific Occupier Services & Commercial Agency team offers an end-to-end suite of consulting and transactional services that deliver domestic and multi-market occupiers with the information and advice they require.

Corporate Services

Occupier Services& Commercial Agency

Investment& Capital Markets

Valuation &Advisory

Consultancy & Research

Tim Armstrong

Head of Occupier Services & Commercial Agency, Asia Pacific

Adeline Liew

Director Occupier Services, Asia Pacific

Nicholas Holt

Head of Research, Asia Pacific