Philippines

It was -58,400 sqm in the previous quarter.

The number of certified green buildings recorded a CAGR of 4.6% as of 3Q21.

It surged 726bps to 12% in Q2 2021.

Manila hit a new 15-year record in Q2 as it overtook the 7% vacancy rate recorded in Q1.

Residential vacancy increased from 15.6% in Q4 2020 to 16.3% in Q2 2021.

It has contributed to addressing the backlog in providing quality shelter for the common Filipino.

This is the highest recorded vacancy rate since 2006.

Vacancy improved to 9% in Q1 2021, the lowest since Q2 2020.

Vacancy rate reached 9.8% in Q1, the highest since 2009.

This is following the rise of e-commerce-use amidst long lockdowns throughout the country.

The pace of growth will likely hinge on a rebound in office leasing. 

Mixing elements of Japanese functionality and simplicity, Tokyo Grand Renovation is becoming famous for making homes into office-ready spaces.

Net absorption hit -41,500 sqm in 4Q20 as more store closures were recorded during the period.

Take-up in 4Q20 reached 85,800 sqm, enough to lift total net absorption to 68,700 sqm for 2020.

It also reached out to displaced jeepney and tricycle drivers to facilitate delivery of orders to far-flung locations in the Philippines.

Capital values in 4Q20 increased 10% yoy to PHP 269,932 per sqm.