- Fri, 07 Mar 2025 5 Min Read
India drove 16% YoY surge in APAC office demand in 2024; market expansion to continue in 2025: Colliers
India, Mainland China and Japan drove over 90% of the office space demand in 2024During H2 2024, leasing in Australia grew manifold, while India and Japan saw notable YoY growths of 11% and 5%, respectivelyIndia witnessed 3.44 million sqm (37.0 million sq ft) of leasing during H2 2024, 11% YoY riseIndia accounted for over 60% of the new supply in 11 top markets of the APAC region during H2 2024BENGALURU, India, March 7, 2025 -- Demand for office space across Asia Pacific's (APAC) top 11 markets surged 15.9% annually to 8.8 million sqm (94.7 million sq ft), led by India, Mainland China and Japan. H2 2024 was particularly strong, with office demand in the region reaching 4.7 million sqm (50.6 million sq ft), a 6.1% rise compared to H2 2023. Demand growth in H2 2024 was notable in markets such as India, Japan and particularly impressive in Australia, which had a lower base. Leasing activity, however, remained relatively subdued in New Zealand, the Philippines, South Korea, Hong Kong, and Taiwan in H2 2024.
