Key Findings from Colliers’ APAC Office Market Report 2026
- APAC Office Demand Rises 11% YoY – Total office leasing across 11 major Asia Pacific markets reached 9.8 million sq m (105.5 million sq ft) in 2025, reflecting strong demand for Grade A office spaces.
- India Leads the Region – India accounted for 68% of total APAC office leasing and 55% of new supply, reinforcing its position as the region’s largest office market.
- Top Markets Driving Demand – India, Mainland China, and Japan contributed over 90% of total office demand across the Asia Pacific region in 2025.
- Strong Growth in Emerging Markets – Philippines, New Zealand, and Hong Kong recorded multi-fold increases in leasing activity, indicating improving business confidence.
- Office Supply Surges 19% – New office supply across the region increased to 9.6 million sq m (103.3 million sq ft) in 2025, with India, Mainland China, and Singapore contributing 82% of the supply.
- Institutional Investments Increase 21% – Investments in the office sector reached US$58.6 billion in 2025, highlighting strong investor confidence in the APAC commercial real estate market.
- H2 2025 Leasing Momentum – Leasing activity in H2 2025 reached 5.3 million sq m, marking a 19% increase compared to H1 2025.
- Prime Market Vacancy to Decline – Tightening supply in prime office locations is expected to reduce vacancy levels and drive rental growth during H1 2026.
- India to Remain Key Investment Hub – Strong economic growth, expanding Global Capability Centres (GCCs), and sustained occupier demand are expected to keep India at the forefront of APAC office investments.
Total office leasing across the region’s 11 key office markets reached 9.8 million square metres (105.5 million square feet) in 2025, an 11% year‑on‑year increase, anchored by robust Grade A space uptake across major markets including India, Mainland China and Japan, according to Colliers’ Asia Pacific Office Market Insights February 2026 report. The growth in demand during 2025 was particularly strong in markets such as the Philippines, New Zealand and Hong Kong, albeit from lower bases, reflecting improving business confidence and renewed expansion.
During 2025, new supply also increased across the top 11 markets, rising 19% year on year at 9.6 million square metres (103.3 million square feet), broadly following demand patterns. Eight out of the 11 markets saw an increase in supply during 2025, with India, Mainland China and Singapore driving 82% of the supply during the year.
Source- Colliers’ Asia Pacific Office Market Insights February 2026 report
During H1 2026, both demand and supply are expected to remain strong, underpinned by strong occupier expansion and preference for high-quality, future-ready office spaces. At the same time, as vacancy tightens in prime locations and supply remains uneven, occupiers are likely to become more deliberate, selective and competitive in their real estate decisions.
“Office demand across key APAC markets continues to strengthen despite ongoing geopolitical frictions, with H2 2025 leasing at 5.3 million square meters (57 million square feet), up 19% compared to H1 2025. Supported by domestic growth in major economies, contained inflation, and a more accommodative interest rate environment, the fundamentals of APAC economy remain stronger than most global regions, driving both demand and investment in the office sector. Looking ahead to 2026, both demand and supply are expected to remain robust, supported by steady occupier expansion and a preference for high-quality, future-ready workplaces. Vacancy levels are likely to tighten further, exerting upward pressure on rentals across key markets, including India,” said Arpit Mehrotra, Managing Director, Office Services, Colliers India.
Source- Colliers’ Asia Pacific Office Market Insights February 2026 report
“India continues to drive the APAC office market, firmly establishing itself as a dominant demand center and key location for investments. The country alone accounted for nearly 68% of total leasing and 55% of new supply across the top 11 APAC markets, while also recording the strongest growth in office investments in 2025, highlighting its scale and resilience. Backed by steady economic growth, a strong occupier base, and expanding GCCs, India’s office market is well-positioned to sustain its growth momentum. Looking ahead, sustained demand and institutional interest are expected to support robust absorption and reinforce India’s position as a preferred destination for long-term office investments,” said Vimal Nadar, National Director & Head of Research, Colliers India.
The report also highlights that Asia Pacific’s office markets are entering a new phase in 2026, where strategy, not scale, will determine success. The next stage of the cycle will be defined less by how much space organisations take, and more by where, why and how they take it.
“This year we see office market momentum across Asia Pacific is holding firm. With competition increasing in prime assets and vacancy tightening in key markets, organisations are becoming more deliberate and strategic about how, where and when they secure space. Businesses are not simply returning to the office; they are recalibrating their portfolios. We are seeing companies make fewer moves, but better ones.” said Mike Davis, Managing Director of Occupier Services, Asia Pacific at Colliers.
Source- Colliers’ Asia Pacific Office Market Insights February 2026 report
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