Colliers' Asia Pacific Office Market Insights for the first half of 2026 shows 4.6 million square metres of leasing across 11 markets, while new supply fell 37% year on year to 3.0 million square metres. Singapore stands out as the tightest market, with vacancy at 3.3%.

TL;DR

  • Colliers tracked 4.6 million sqm of office leasing and 3.0 million sqm of new supply across 11 Asia Pacific markets in H1 2026, with supply down 37% year on year.
  • - Singapore vacancy was 3.3% and average rent US$102.05 per sqm per month. Hong Kong vacancy was 16.1% and rent US$73.9 per sqm per month.
  • - Colliers expects stable vacancy and rising rents, but the report is about two months old and covers the first half only.

What did Colliers find across Asia Pacific?

Hong Kong and Taiwan recorded the strongest demand growth. New Zealand, Indonesia and Singapore had significant year-on-year declines in leasing volume. Mike Davis of Colliers said, "The APAC office market is entering the second half of 2026 with growing momentum." Lower new supply is the key structural change, because it limits the options tenants have.

How tight is the Singapore office market?

Singapore's vacancy rate of 3.3% reflects tight supply in the central business district and a landlord-favourable market, according to Colliers. Premium Grade A rents led the increase, at an average of US$102.05 per sqm per month. The apparent contradiction is worth noting: Singapore leasing volume fell year on year even as rents rose, which points to a shortage of space rather than weak demand.

Is Hong Kong recovering?

Hong Kong shows a split picture. Citywide vacancy was 16.1% and average rent US$73.9 per sqm per month, but net take-up was 80,300 sqm quarter on quarter and central business district vacancy fell to 10.2% from 14.5% a year earlier. Colliers projects rents in non-core submarkets to fall by more than 5% over the year, so the recovery is concentrated in prime locations.

Why it matters

For investors and occupiers, falling supply and low Singapore vacancy support rental resilience in core districts, while Hong Kong still has uneven conditions between prime and secondary buildings. For related coverage on this site, see:

https://propertynewsasia.com/asia-pacific-property-investment-rose-27-in-h1-2026-with-singapore-leading-office-gains-cbre/

https://propertynewsasia.com/hong-kong-home-sales-fall-40-in-q3-as-grade-a-office-leasing-hits-its-strongest-quarter-since-2019/

This article is general information, not property or investment advice.

What is not confirmed

Colliers' forecast of stable vacancy and rising rents is a projection, not an outcome. The figures cover H1 2026 and may not reflect conditions since. We did not verify the report's market-by-market figures beyond Singapore and Hong Kong, and independent coverage from Real Estate Asia, IREI and The Realty Today repeated the headline findings rather than adding separate data.

Frequently Asked Questions

How much office space was leased in Asia Pacific in H1 2026?

Colliers reports 4.6 million sqm of leasing across 11 markets.

What is Singapore's office vacancy rate?

Colliers puts it at 3.3%, with an average rent of US$102.05 per sqm per month.

Why did new office supply fall?

Colliers reports new supply of 3.0 million sqm, down 37% year on year. The report does not give a single cause in the sections we reviewed.

Sources and Method

Colliers, Asia Pacific Office Market Insights H1 2026 (primary document, read in full). Independent coverage: Real Estate Asia (8 September 2026), IREI (20 August 2026) and The Realty Today (25 August 2026). Rewritten independently; figures checked against the Colliers report.