India Leads APAC Office Leasing in 2025: Colliers Report Highlights

The Asia Pacific office market witnessed significant growth in 2025, with total leasing across 11 key markets reaching 9.8 million square metres (105.5 million square feet), marking an 11% year-on-year increase. This growth was primarily driven by robust demand for Grade A office spaces in major markets such as India, Mainland China, and Japan, according to Colliers' Asia Pacific Office Market Insights February 2026 report.

India emerged as the dominant force in the region, accounting for 68% of total APAC office leasing and 55% of new supply. This underscores India's position as the region’s largest office market. The country's strong economic growth, expanding Global Capability Centres (GCCs), and sustained occupier demand are key factors contributing to its leadership.

Other notable markets, including the Philippines, New Zealand, and Hong Kong, also recorded multi-fold increases in leasing activity. These markets, though starting from lower bases, reflect improving business confidence and renewed expansion. The growth in demand was supported by new office supply, which increased by 19% year on year to 9.6 million square metres (103.3 million square feet). India, Mainland China, and Singapore contributed 82% of the new supply during the year.

H2 2025 saw a significant uptick in leasing activity, reaching 5.3 million square metres, a 19% increase compared to H1 2025. This momentum is expected to continue into 2026, driven by strong occupier expansion and a preference for high-quality, future-ready office spaces. As vacancy rates tighten in prime locations, occupiers are likely to become more selective and competitive in their real estate decisions.

Arpit Mehrotra, Managing Director, Office Services, Colliers India, commented, “Office demand across key APAC markets continues to strengthen despite ongoing geopolitical frictions. Supported by domestic growth in major economies, contained inflation, and a more accommodative interest rate environment, the fundamentals of the APAC economy remain stronger than most global regions, driving both demand and investment in the office sector. Looking ahead to 2026, both demand and supply are expected to remain robust, supported by steady occupier expansion and a preference for high-quality, future-ready workplaces. Vacancy levels are likely to tighten further, exerting upward pressure on rentals across key markets, including India.”

India's office market is well-positioned to sustain its growth momentum. Vimal Nadar, National Director & Head of Research, Colliers India, stated, “India continues to drive the APAC office market, firmly establishing itself as a dominant demand center and key location for investments. The country alone accounted for nearly 68% of total leasing and 55% of new supply across the top 11 APAC markets, while also recording the strongest growth in office investments in 2025, highlighting its scale and resilience. Backed by steady economic growth, a strong occupier base, and expanding GCCs, India’s office market is well-positioned to sustain its growth momentum. Looking ahead, sustained demand and institutional interest are expected to support robust absorption and reinforce India’s position as a preferred destination for long-term office investments.”

The report also highlights a new phase in the Asia Pacific office market, where strategy, not scale, will determine success. Mike Davis, Managing Director of Occupier Services, Asia Pacific at Colliers, noted, “This year we see office market momentum across Asia Pacific holding firm. With competition increasing in prime assets and vacancy tightening in key markets, organisations are becoming more deliberate and strategic about how, where, and when they secure space. Businesses are not simply returning to the office; they are recalibrating their portfolios. We are seeing companies make fewer moves, but better ones.”

In summary, the Asia Pacific office market is entering a new era of strategic growth, with India leading the way. The region's strong economic fundamentals, coupled with a preference for high-quality office spaces, are expected to drive continued demand and investment in 2026.