Savills Research Asia Pacific 1 st January 211 Prime Benchmark Savills Research www.savills.com.hk/research
Savills Research Asia Pacific 1 st January 211 Prime Offices (Top 5) 25 2 15 1 5 Kuala Lumpur Source : Savills Research & Consultancy (US$ psm net eff. pm) 28.4 142.8 91.7 62.1 68.4 64.9 67.5 53.6 51.9 43.8 39.8 38.8 35.5 32.4 22.2 12.5 Inclusive Inclusive 2.3 Inclusive 6.3.7 4.4 7.2 Inclusive 6.8 Inclusive 6.3 Inclusive 6.8 1.4 7.1 Inclusive Inclusive 3.4 Inclusive 2.9 2.5 Inclusive 4.4 Inclusive 3.9 Inclusive Inclusive 2.9 Total 231.3 15. 91.7 82.4 71.8 71.2 71.1 6.4 59.1 48.2 46.5 42.7 41.8 32.4 32. Prime Retail Malls (Top 5) 9 8 7 6 5 4 3 2 1 # 814.2 466.8 42.8 33.5 321.1 277.7 314.8 251.4 193.6 147. 146.5 123.5 18. 1. 66.3 22. Inclusive Inclusive 15.8 Inclusive 11.9 24.7 11.2 1.3 Inclusive Inclusive 12.1 5. 12.7 Inclusive 4.7 Inclusive 18.3 Inclusive Inclusive Inclusive 15.7 Inclusive Inclusive 7.3 Inclusive Inclusive 1.8 11.3 6.6 Total 876.9 466.8 439.1 346.4 321.1 289.7 355.3 262.5 23.9 154.3 146.5 135.5 123.8 124. 72.9 # As average rents of prime retail malls in are not available, retail rents of high-end street shops are used instead. Luxury Apartments (Top 1) 12 1 8 6 4 2 * 89.6 9. 51.9 5.3 38.2 36.9 23.1 23.5 19.5 18.4 15.6 7. Inclusive Inclusive Inclusive Inclusive Inclusive.8 Inclusive Inclusive Inclusive Inclusive 4.5 Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive 2. Inclusive Inclusive Total 11.1 9. 51.9 5.3 38.2 36.9 23.9 23.5 21.5 18.4 15.6 * 's = (Security deposit x Interest Rate)/12 + Monthly payment Average Management fees for are not available as management fees include utility charges and vary from month to month 1
Savills Research Asia Pacific 1 st January 211 Prime Villas / Townhouses (Top 5) 14 12 1 8 6 4 2 116.6 38.7 36.2 34.6 29.8 25.2 7.7 N/A Inclusive Inclusive Inclusive Inclusive 5.8 Inclusive Inclusive Inclusive Inclusive Inclusive Total 13.1 38.7 36.2 34.6 29.8 25.2 Luxury Serviced Apartments (Top 5) 14 12 1 8 6 4 2 127.1 123.3 11.5 92. 56.4 53.6 43.8 39.8 42.9 41.7 31.7 29.1 27.7 17.8 Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive Inclusive 2.2 Inclusive.9 Inclusive Inclusive Inclusive Inclusive Inclusive 5.6 Inclusive Inclusive 4. Inclusive Inclusive 1.6 2.9 2.8 Inclusive Total 127.1 123.3 11.5 92. 62.1 53.6 43.8 43.8 42.9 41.7 35.4 32. 31.4 17.8 Prime Hotels (Top 5) 8 7 6 5 4 3 2 US$ per room per night 1 Room Rate (US$ per room/night) 71.7 49.2 475.6 442. 4.1 296.1 28.4 262.5 26.1 29.2 27.6 186.5 18.9 165.6 Hotel room rates are subject to seasonality and the room rate changes over 1H/21 cannot be regarded as completely reflective of hotel market trends. Assumptions: 1) 1 sq.m. = 1.7639 sq.ft. /.325 ping /.325 tsubo 2) As of 31 December 21, HKD/USD = 7.7832; RMB/USD = 6.6118; SGD/USD = 1.2913; NTD/USD = 29.4; KRW/USD = 1,133.79; JPY/USD = 81.5533; VND/USD = 19,596; RM/USD = 3.851; IDR/USD = 9,17.47; AUD/USD =.9841 2
Savills Research Asia Pacific 1 st January 211 Cost Changes - Prime Offices, Jul - Dec 1 Prime Office Cost, 2H/7-2H/1 al Changes in Local Currency al Changes in USD -25% -2% -15% -1% -5% +% +5% +1% +15% +2% +25% 3 25 2 15 1 5 2H/7 1H/8 2H/8 1H/9 2H/9 1H/1 2H/1 1 Jul 21 In US Dollars +21.5% -2.7% +16.8% +7.3% -1.9% +6.6% +17.5% +8.9% -.1% +1.4% +7.5% -19.9% +4.2% +5.4% +6.5% In Local Currency +21.5% -1.5% +7.8% -.1% -9.8% +3.5% -.9% -.1% -3.% +2.9% +4.4% -18.7% +1.2% +% +5.8% Cost Changes - Prime Retail Malls, Jul - Dec 1 Prime Retail Mall Cost, 2H/7-2H/1 al Changes in Local Currency al Changes in USD -3% -2% -1% +% +1% +2% +3% +4% +5% 2H/7 1H/8 2H/8 1H/9 2H/9 1H/1 2H/1 1 Jul 21 # 1, 9 8 7 6 5 4 3 2 1 In US Dollars +19.6% +11.9% -14.1% +38.9% +4.3% +18.7% +8.1% +4.4% 7.8% -2.2% +9.% +2.9% +.4% +% +26.3% In Local Currency +19.6% +3.3% -21.% +27.3% +1.3% +% +5.% +1.4% +4.7% -1.1% +3.4% -4.2% +1.9% -.6% +28.1% # As average rents of prime retail malls in are not available, retail rents of high-end street shops are used instead Cost Changes - Luxury Apts., Jul - Dec 1 Luxury Apt. Cost, 2H/7-2H/1 al Changes in Local Currency al Changes in USD -15% -1% -5% +% +5% +1% +15% +2% +25% +3% +35% 2H/7 1H/8 2H/8 1H/9 2H/9 1H/1 2H/1 * 1 Jul 21 12 1 8 6 4 2 In US Dollars +8.8% +3.9% +1.4% +31.7% -5.% +1.6% +8.3% +7.4% -3.8% +13.6% +11.9% In Local Currency +8.7% -4.5% +1.9% +22.6% -12.6% +2.% +5.2% +4.3% -4.4% +1.3% +6.2% * 's = (Security deposit x Interest Rate)/12 + Monthly payment Average Management fees for are not available as management fees include utility charges and vary from month to month 3
Savills Research Asia Pacific 1 st January 211 Cost Changes - Prime Villas/T-hse, Jul - Dec 1 Real GDP Growth Forecasts, 211-212 al Changes in Local Currency al Changes in USD -8% -6% -4% -2% +% +2% +4% +6% +8% +1% +12% 1 Jul 21 % 16 14 12 1 8 6 4 2 Australia Source: FocusEconomics In US Dollars +6.5% +1.4% +3.4% +3.3% -3.4% +5.1% In Local Currency +6.5% +1.9% +.4% +.4% -6.2% +2.1% Indonesia Japan 211F Malaysia Mainland China 212F South Korea Taiwan Vietnam Cost Changes - Luxury Svcd Apts., Jul - Dec 1 CPI Forecasts, 211-212 al Changes in Local Currency al Changes in USD -15% -1% -5% +% +5% +1% +15% +2% +25% +3% +35% +4% % 1 8 6 4 2-2 Australia Source: FocusEconomics Indonesia Japan 211F Malaysia 212F Mainland China South Korea Taiwan Vietnam 1 Jul 21 In US Dollars -3.3% +7.2% +1.5% +34.1% +25.% +1.5% +8.% +3.5% +4.3% +5.9% +% +% -1.2% +9.7% In Local Currency -11.1% +7.2% +2.% +23.4% +16.4% +4.% +4.8% +5.% +1.2% +2.9% -8.3% -.6% +.2% +4.1% Cost Changes - Prime Hotels, Jul - Dec 1 Current Account Forecasts, 211-212 al Changes in Local Currency al Changes in USD -3% -2% -1% +% +1% +2% +3% +4% +5% +6% +7% +8% 1 Jul 21 US$ billion 35 3 25 2 15 1 5-5 -1 In US Dollars -3.1% +31.3% +18.7% +6.5% +1.7% -2.3% +7.4% -3.8% +6.1% +64.2% +19.1% +7.% +9.1% +13.5% In Local Currency -1.9% +2.7% +% +6.5% +2.2% -22.6% +% -6.6% +3.% +66.6% +2.8% -1.9% +5.9% +7.6% Hotel room rates are subject to seasonality and the room rate changes over 1H/21 cannot be regarded as completely reflective of hotel market trends. This report has been prepared to provide a benchmark of occupancy costs of selective prime properties in various cities in Asia, inclusive of rents, management fees and government taxes / rates. Except for the hotel sector, all the costs are quoted on a net floor area basis per month, which is defined as the floor area exclusively allocated to a unit, excluding common areas. As only a small basket of 5 to 1 prime buildings are monitored in each sector, the rental data and occupancy costs reported in this publication might be higher than the average market figures being reported elsewhere. Given varying local market practices, necessary assumptions and judgments are made by our real estate professionals in local offices to achieve comparable results among the different cities. Australia Source: FocusEconomics Indonesia Japan 211F Malaysia 212F Mainland China South Korea Taiwan Vietnam 4
ASIA PACIFIC HEADQUARTERS 23/F Two Exchange Square, Central, Tel: (852) 2842 44 Fax: (852) 2868 4386 Robert McKellar - CEO, Asia Pacific Raymond Lee - CEO, Greater China Chris Marriott - CEO, South East Asia Charles Chan - MD, Valuation & Professional Services, Greater China HONG KONG SAR Savills () Limited 23/F Two Exchange Square, Central, Tel: (852) 2842 4534 Fax: (852) 2869 6738 Contact: Raymond Lee E-mail: rlee@savills.com.hk EA Co. Licence: C-245 Savills Valuation and Professional Services Limited 28/F Two Exchange Square, Central, Tel: (852) 281 61 Fax: (852) 251 581 Contact: Charles Chan E-mail: ccchan@savills.com.hk EA Co. Licence: C-2375 Savills Property Management Holdings Limited 8/F Cityplaza One, 1111 King s Road, Taikoo Shing, Tel: (852) 2534 1688 Fax: (852) 2851 1249 Contact: Kendrew Leung E-mail: kleung@savills.com.hk EA Co. 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