India Anchors Asia-Pacific Office Leasing in H1 2026

India emerged as the dominant force in Asia-Pacific office leasing during the first half of 2026, accounting for more than 70% of total leasing activity across 11 major markets in the region, according to a report by property consultancy Colliers released on Monday. The report, titled "Asia Pacific Office Market Insights H1 2026," revealed that total office leasing in the tracked markets reached 4.6 million square meters (49.5 million square feet), marking a 3% year-on-year increase.

Regional Demand Concentrated in a Few Markets

The report highlighted that demand was primarily driven by Grade A space absorption in India, Mainland China, and Japan, which together accounted for over 95% of the total regional uptake. Strong growth was also observed in Hong Kong and Taiwan. India alone contributed over two-thirds of the region's total office demand and supply during the period, supported by robust fundamentals, including the continued expansion of global capability centres (GCCs).

Supply Declines Sharply

New office supply across the 11 APAC markets contracted by 37% year-on-year to 3 million square meters (32.3 million square feet) in H1 2026. Completions were heavily concentrated in India and Mainland China, which together represented more than 80% of regional supply.

Expert Insights

Arpit Mehrotra, Managing Director, Office Services, Colliers India, said, "India continues to anchor leasing volumes in the APAC office market, underpinned by strong demand fundamentals, including expansion of global capability centres in the country. In fact, India accounted for over two-thirds of the region's demand and supply during H1 2026." He added, "Looking ahead, despite geopolitical uncertainty, skilled talent availability and cost arbitrage are likely to support robust absorption and further strengthen India's position as a preferred office market in the Asia Pacific region."

Vimal Nadar, National Director and Head of Research, Colliers India, noted, "Office demand across key APAC markets remained resilient in H1 2026, with leasing activity reaching 4.6 million sq m (49.5 million sq ft). Despite moderating GDP growth, the region continues to outperform global peers." Nadar also said, "While elevated inflation levels have prompted central banks to maintain a cautious approach to monetary policy, sustained business confidence continues to underpin occupier demand and investment activity."

Mike Davis, Managing Director, Occupier Services, Asia Pacific at Colliers, commented, "The APAC office market is entering the second half of 2026 with growing momentum. As occupiers double down on high-quality workplaces to attract talent, drive productivity and support business growth, regional demand is increasingly concentrating in best-in-class assets." Davis added, "Over the next few quarters, supply and demand are expected to remain healthy, supported by strong occupier activity and continued preference for high-quality office assets."

Outlook for H2 2026

The report expects office market activity to remain strong in the second half of 2026, with demand increasingly concentrated in high-quality, future-ready assets. Sustained demand, coupled with constrained new supply, is likely to keep regional vacancy levels stable and drive rental growth across high-activity markets through the remainder of the year. The broader APAC region is expected to continue outperforming global peers, supported by resilient growth and likely stability in interest rates, although geopolitical and trade risks remain.