ASIA PACIFIC OUTLOOK 2025

BRISBANE

DEMAND & VACANCY

Office demand remains strong but has declined for three consecutive years, from 63,000 sqm of net absorption in 2022 to 58,000 sqm in 2024. Robust interstate migration has boosted short-term employment forecasts for Brisbane CBD, though this trend is expected to ease in 2025. Consequently, net absorption is projected to remain modest, reaching 14,000 sqm in 2025 and 20,000 sqm in 2026.

70,000

16.0%

FORECAST

14.0%

60,000

12.0%

50,000

10.0%

40,000

8.0%

30,000

6.0%

20,000

4.0%

10,000

2.0%

-

0.0%

Limited new supply will help maintain low vacancy rates, ranging between 8% and 12%.

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

NET ABSORPTION (SQM) AND VACANCY RATE (%)

Net Absorption

Vacancy Rate

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield

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