Based on CBRE's latest research, Asia Pacific's office sector continues to be a resilient asset class and attractive investment opportunity in the region.
According to CBRE, Japan's national department store sales in the January-March quarter of 2023 was up by 14.2% year-over-year. The growth was driven by a double-digit increase in the number of customers visiting stores all through the quarter.
CBRE Japan is reporting that while commercial real estate transaction volume declined by 20% year-over-year globally in 2022, investment volume in Japan remained largely unchanged, with only a 2% fall from the previous year.
According to CBRE's latest Asia Pacific Live-Work-Shop Report, while the adoption of hybrid work continues to have a major influence on where consumers are choosing to work and live, more people in Asia Pacific are actually planning to move closer to city centers.
According to global property consultant CBRE, Tokyo's office vacancy rate is rising on the back of new supply. All-grade office vacancy rates rose to 4.9% in Q3 2022, an increase of 0.6 points from the previous quarter, primarily due to vacancies in newly-completed buildings.
Posted on October 13, 2022
Posted on July 28, 2022