Asia pacific offices offer opportunities to upgrade

Expanding office markets in the Asia Pacfic region are offering up a range of opportunities to occupiers.

Knight Frank's latest rental index climbed 1.4 per cent in Q3 2015, with 10 out of the 19 markets recording rental growth and three showing no movement. Tokyo led the rise in rents for the second month in a row. Going forward, the agency predicts that rents will rise or stay steady n 13 markets in the coming 12 months.

At the same time, though, the average vacancy rate edged up by 0.1 percentage point, as the construction boom fuelled by rental appreciation brings a large volume of new supply to markets, providing occupiers with many opportunities to upgrade or expand.