New data from the global real estate consultancy JLL indicates that the Asia Pacific region was the sole global area to experience an increase in commercial real estate investment in the first quarter of 2024, with investments hitting $30.5 billion. This represents a 13% rise year-over-year (YoY) and is the second consecutive quarterly increase after a slump lasting seven quarters.
Based on new data from JLL, Asia Pacific hotel investment volumes declined by 51% year-on-year in the first half of 2023 as macroeconomic challenges and the rising cost of debt influenced capital deployment.
According to new data by global real estate consulting firm JLL, commercial real estate investment activity in Asia Pacific declined by 30% year-on-year in the first quarter of 2023, as total investment activity in the region reached $27 billion.
Commercial real estate investment in Asia Pacific in 2022 declined by 27% year-on-year as a tightening interest rate cycle and global macroeconomic uncertainties influenced decision-making.