Research

Asia Pacific Industrial Market Dynamics Q4 2024

Soft market conditions, but investment sentiment on the up

February 21, 2025
Highlights from the report include:

  • Q4 is typically the strongest quarter of the year for occupier demand, and this year was no exception. Net absorption q-o-q reached 4.5 million sqm, higher than the 3.2 million sqm average for the first three quarters of 2024. Nonetheless, 2024 annual net absorption came in much lower than 2023 (14.2 million vs 16.3 million sqm).
     

  • Vacancy fell to 14.8% in Q4 2024, down 0.9 percentage points from the previous quarter.
     

  • Asia Pacific transaction volumes improved in 2024 compared to 2023, but investors are still cautious amid now higher interest rate expectations

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