What have we learned from the last 12 months? We are seeing the workspace industry in Asia-Pacific adapting to a radical shift in approach to the office, and its role for business.
2020 was a year of change for all regions. The office will have to evolve to keep up with the needs of the customer. The agility inherent in the flexible office sector will become critical to businesses as they adapt to change, propelling the industry forward throughout 2021, and Asia-Pacific is no exception.
Our data shows the pronounced impact of the pandemic: reduced supply, a significant decrease in demand and shortening contract lengths. But within the last three months, the market appears to be returning with clients looking to create a more agile approach to their workspace portfolio and provide more options for their colleagues in terms of location but also mode of working.
This represents the biggest change to the office market in a generation; download the full report to see how the data suggests a significant shift is already underway and how the market is adapting its approach from a supply and demand perspective.
"The next 24 months will see businesses of all sizes reassessing the use of their office. It is a time to test different designs, locations and modes of working, as well as explore alternative routes to delivery. Demand for workspace has quickly returned but buyers are looking for short-term options to rethink the very purpose of their workspace. It will make for a unique point of time in the history and function of the office itself."
Sean Lynch, APAC Managing Director, The Instant Group