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The Office Index is a stock-weighted average of rental movements across Asia Pacific. Expansion demand in Tier 1 office markets remained subdued in 3Q12 on the back of corporate caution and slower economic growth. Across the region, aggregate rental growth averaged just 0.5% q-o-q, slowing from 1.0% in 2Q12 and below the post-GFC average quarterly growth of 1.4%.