3. Occupier appetite for expansion is strengthening
As the economic recovery gains momentum and concerns about the viability of hybrid working models ease, many companies are shifting away from the negative views they displayed towards the outlook for office demand at the onset of the pandemic.
More occupiers now expect the size of their office portfolios to increase in the long-term. About 50% of respondents intend to increase the size of their real estate portfolios over the next three years, a substantial increase on the 23% who replied the same in October 2020.
How do you expect your corporation’s real estate portfolio to change over the next three years?
Oct 2020
11%
21%
N = 103 respondents in 2021; N=106 respondents in 2020 Note: * No such options in 2020 APAC occupier survey
Source: CBRE Research, June 2021
APAC
Asia-based Companies
Non-Asia based Companies
23% expect increase
May 2021
Significant decrease
Unsure
Modest
decrease
Minimally smaller (<10%)*
Minimally larger (<10%)*
No change
Modest
increase
Significant increase
50% expect increase
66% expect increase
35% expect increase
25%
20%
14%
8%
3%
15%
17%
12%
26%
13%
7%
9%
6%
6%
4%
17%
13%
40%
13%
15%
20%
11%
15%
13%
20%
7%