ASIA PACIFIC OUTLOOK 2025

SYDNEY

RENT GROWTH

Prime rental growth in Sydney CBD slowed to 3.6% in 2024, compared to 6.3% in 2023.

1,400

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0%

FORECAST

The stabilisation of rent incentives has kept face rent growth modest, contributing to the overall slowdown.

1,200

1,000

800

This trend is expected to continue through 2025, with limited changes in market dynamics.

600

400

Rental growth is anticipated to recover in 2026, driven by steady demand and subdued supply, stabilising between 6% and 8% thereafter.

200

0

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

AUD/SQM/YR

Rent growth (%)

RENT (AUD/SQM/YR) AND RENT GROWTH (% PER ANNUM)

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield