New office leasing demand from the legal sector remains limited. International firms continue to focus on cost saving initiatives while domestic firms are displaying a relatively stronger appetite for upgrading and expansion.
Macro themes impacting international firms at present include rising competition from domestic firms, the adoption of new technology and an increased focus on legal process outsourcing.
While law firms in Asia Pacific are generally still conservative towards overall workplace planning, a number of international groups are beginning to trial new ways of working, such as shifting towards a hybrid of open plan and enclosed spaces.
Domestic firms are set to continue to drive leasing demand over the remainder of the year. Activity by international firms is likely to pick up in Singapore and Seoul in the medium term.