Asia Pacific MarketView Q1 2018
10 May 2018
Occupier and Capital Markets Enjoy Positive Start to the Year
Stronger than expected office leasing demand supported an increase in net absorption in Q1 2018. Active markets included Bangalore and Tokyo. Asian financial companies and tech firms continued to display a strong appetite for expansion and relocation, while co-working firms remained aggressive.
Retailer demand was solid in Q1 2018 amid the generally positive outlook for key markets including Hong Kong, Singapore and China. F&B remained the major demand driver, while other active sectors included luxury, fast fashion, lifestyle and entertainment.
Demand for warehouse space remained robust, with the exception of India and a few markets in the Pacific. Third-party logistics and e-commerce forms registered solid expansionary demand.
Commercial real estate investment turnover stood at US$25.4 billion in Q1 2018, an increase of 7.8% y-o-y. Market performance was mixed, with transaction volume increasing in China, Hong Kong and Korea, but declining in Australia and Singapore. Tight capital controls meant fewer big ticket cross-border deals were completed by Chinese buyers.
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