According to global real estate advisor JLL, Asia Pacific commercial real estate investment volumes continued to rebound strongly in the first nine months of 2021, up 30% compared to the same period in 2020.
On a quarter-over-quarter basis, Q2 2021 saw $2.3 billion in hotel transaction volume across the region, a 5.1% slide from Q1 2021. Japan, Mainland China, Korea and Australia made up the bulk of sales volume during the second quarter, says CBRE.
Net absorption in the overall office market continued to decrease to -10,900 sq. feet in August 2021. There were still some corporate downsizing activities due to the pandemic but those were largely offset by the upgrading demand and expansion of the flexible office space sector.
According to a new survey by CBRE, logistics occupiers have big plans to expand their warehouse footprint in Asia Pacific over the next three years on the back of growing optimism about the operating environment.
The pandemic-induced housing boom continues with prices rising by 9.2% on average across 55 countries and territories in the year to June 2021.
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