Office deals recorded a strong increase during the second quarter, according to new research from Cushman & Wakefield, although Thailand – unlike many of its regional counterparts – did not record a single cross-border transaction during the three month period.
Cushman & Wakefield said that deals for the region’s offices registered a strong quarter, up a sequential 12 percent in the second quarter of 2014 and just a tad shy of the volumes seen in the same period last year, which was a record breaking year.
Total deals for office properties reached US$15.7 billion in the region – the rush for office assets were seen in most of the region’s core markets.
“Office deals in the region have significantly outperformed in the second quarter, as deal flow were seen to be sluggish going into the new year”, said Sigrid Zialcita, Managing Director of Research for Asia Pacific, Cushman & Wakefield.
“Office fundamentals in the region in some of these markets have improved somewhat, with rents expected to rise amid strengthening leasing activity. Some investors are obviously detecting a good buying opportunity.”
About 40 percent of the deals were driven by foreign capital, which totalled US$6.2 billion – the highest recorded for the region since the financial crisis.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email: andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email:andrew@propertyguru.com.sg