Cities in the Asia Pacific region have seen an economic growth of 2.9 % in the last year. The costs of large, furnished offices and floors have also increased, so much that some cities have higher rents than the so-called expensive cities like London.
All of this is due to the surge in demand for office space in the Asia-Pacific region, notably in cities like Hong Kong, Tokyo and New Delhi, from big and mid-size enterprises that are looking to set up shop.
These cities are also attractive talents from Western countries to find opportunities increasing the demand even further not only for commercial but also for residential properties.
There is also a trend of large corporations with sufficient cash flow buying large furnished offices spaces for their own use. Many multinationalal companies, including banks, have acquired entire buildings in prime locations for relocating all their operations and resources under one roof
Even the smaller enterprises are making sure to get neighbouring office areas for expansion purposes.
These factors have led to the increase in property prices in cities across the Asia Pacific region, but this has not stopped international businesses from going ahead with and renting huge chunks of office space.
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