# APAC prime office rents rise 0.6% as competition for quality space grows

- **Source:** Real Estate Asia
- **Published:** 2026-08-18T21:57:13.000Z
- **Author:** Staff Reporter
- **Original:** https://realestateasia.com/commercial-office/in-focus/apac-prime-office-rents-rise-06-competition-quality-space-grows
- **Topics:** Commercial & Industrial, Regional Markets

## Featured rationale

Competition for quality, well-connected offices and earlier leasing commitments signals tightening prime supply, which may support further rental growth in constrained markets.

## AI summary

Asia-Pacific prime office rents rose 0.6% quarter-on-quarter in Q2 2026, while vacancies remained broadly stable despite nearly 1.5 million sq m of new completions.

## Original article

Vacancy rates remained stable despite almost 1.5m sq ft of new office completions.

Prime office rents across Asia-Pacific rose 0.6% quarter-on-quarter in the second quarter of 2026, as occupiers continued to compete for high-quality, well-connected space despite nearly 1.5 million sq m of new office completions, according to Knight Frank.

The property consultancy said vacancy rates remained broadly stable across the region, with 18 of the 24 markets tracked recording either stable or higher rents. Occupiers are increasingly looking beyond immediate requirements and securing future office capacity earlier, particularly where supply options are expected to become constrained.

Demand remained concentrated in established business districts, while new Grade A developments lifted rental benchmarks in some emerging markets. Knight Frank said companies are also reassessing office requirements as growth plans, talent strategies and operational needs evolve.

Hong Kong recorded the strongest performance among major office markets, with prime rents rising 5.1% quarter-on-quarter and 12.7% year-on-year. Knight Frank attributed the increase to tightening availability of prime space in Central and growing demand from companies seeking to re-establish a presence in core business districts.

In Southeast Asia, Phnom Penh posted the strongest quarterly rental growth, with rents increasing 7.6% as newly completed Grade A projects in prime locations raised market benchmarks.

India continued to record robust office demand, with 9.8 million sq ft leased during Q2. Although below the record levels of 2025, quarterly take-up exceeded the 7 million sq ft of new supply entering the market. Knight Frank said occupiers are increasingly combining conventional long-term leases with flexible workspace to support scalability.

Flex operators accounted for more than 30% of leasing volumes across Bengaluru, Delhi-NCR and Mumbai, ahead of financial firms, according to the consultancy.

Technology companies remained the largest source of leasing demand across Asia-Pacific, while AI-related occupiers are emerging as an increasingly important segment. Knight Frank said these companies are favouring newer, better-connected buildings that can accommodate expansion while supporting talent attraction and retention.

Tim Armstrong, global head of occupier strategies and solutions at Knight Frank, said tightening supply is making it more difficult for occupiers to secure suitable space in the right locations. He said companies are extending planning horizons and considering expansion options, phased commitments and pre-leasing arrangements earlier.

Christine Li, head of research, Asia-Pacific at Knight Frank, said the rise in office rents represented a gradual rebalancing of market fundamentals rather than a broad-based acceleration in demand. She said financial institutions, technology companies and flexible workspace operators continued to support leasing, while supply constraints were increasingly driving rental growth in markets including Hong Kong and several Australian CBDs.

Knight Frank said Chinese mainland markets remained under pressure from elevated vacancies and continued supply additions, despite improving absorption. Looking ahead, the consultancy expects supply constraints and sector-specific expansion to support further rental growth in the second half of 2026, with AI-related office demand providing an additional source of leasing activity.

## Chinese translation

> Translation model: grok_cli

### 亚太优质写字楼租金上涨0.6%，优质空间竞争加剧

2026年第二季度，亚太地区优质写字楼租金环比上涨0.6%，租户继续争夺高品质、交通便利的

尽管新增写字楼竣工面积接近150万平方英尺，空置率仍保持稳定。

据莱坊（Knight Frank）称，2026年第二季度，亚太地区优质写字楼租金环比上涨0.6%，尽管新增写字楼竣工面积近150万平方米，租户仍继续争夺高品质、交通便利的空间。

该房地产咨询机构表示，整个地区空置率大体保持稳定，所追踪的24个市场中有18个录得租金持稳或上涨。租户越来越多地超越即时需求、更早锁定未来办公容量，尤其是在供应选择预期将趋紧的市场。

需求仍集中在成熟商务区，而新建甲级项目则在部分新兴市场推高了租金基准。莱坊表示，随着增长计划、人才策略和运营需求演变，企业也在重新评估办公需求。

香港在主要写字楼市场中表现最为强劲，优质租金环比上涨5.1%、同比上涨12.7%。莱坊将这一涨幅归因于中环优质空间供应趋紧，以及寻求在核心商务区重新设立业务据点的企业需求增长。

在东南亚，金边录得最强劲的季度租金增长，租金上涨7.6%，因优质地段新竣工甲级项目抬高了市场基准。

印度继续录得强劲写字楼需求，第二季度租赁量为980万平方英尺。尽管低于2025年的创纪录水平，当季吸纳量仍超过入市的700万平方英尺新供应。莱坊表示，租户正越来越多地将传统长期租约与灵活办公空间相结合，以支持可扩展性。

据该咨询机构称，在班加罗尔、德里国家首都圈（Delhi-NCR）和孟买，灵活办公运营商占租赁量逾30%，超过金融企业。

科技公司仍是亚太地区最大的租赁需求来源，而与人工智能相关的租户正成为日益重要的细分群体。莱坊表示，这些公司更青睐更新、交通更便利、既能容纳扩张又能支持吸引和留住人才的楼宇。

莱坊全球租户策略与解决方案主管Tim Armstrong表示，供应趋紧使租户更难在合适地点锁定合适空间。他表示，企业正拉长规划视野，并更早考虑扩张选项、分阶段承诺和预租安排。

莱坊亚太研究主管Christine Li表示，写字楼租金上涨代表着市场基本面的逐步再平衡，而非需求的全面加速。她表示，金融机构、科技公司和灵活办公空间运营商继续支撑租赁，而供应约束正日益推动包括香港及多个澳大利亚中央商务区在内的市场租金增长。

莱坊表示，尽管吸纳有所改善，中国内地市场仍受高企空置率和持续新增供应压制。展望未来，该咨询机构预计供应约束和行业特定扩张将在2026年下半年支撑进一步租金增长，与人工智能相关的办公需求将提供额外租赁活跃度来源。