• Net absorption registered an all-time quarterly low in Q2 2020 while net absorption for H1 2020 also fell to the weakest half yearly total on record.
  • Most tenants sought cost-saving options such as renewals to save CAPEX. Several co-working operators surrendered space.
  • Contracting demand pushed up overall vacancy to the highest level since Q3 2009. Overall rents recorded the sharpest quarterly decline since Q2 2009.