According to JLL's Macau mid-year 2023 property market review, the reopening of borders in the early part of this year buoyed the retail leasing market significantly in Macau. However, the weakening global economy and mainland China's slowdown coupled with the interest rate hikes has affected the recovery of the local real estate market.
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 JLL in its 2022 Macau Mid-year Property Review and forecast, Macau has been gradually back to normal with the new wave of COVID-19 pandemic that emerged in the middle of the year being brought under control.
Investment in Asia Pacific's cold storage market is expected to grow fivefold in the next decade, driven by a shortage of new supply, outdated existing facilities and rapidly changing consumer demands created by the widespread adoption of online grocery shopping.
According to global property consultant CBRE, following a steady flow of sales in 2020, corporates across Asia Pacific increased their real estate disposal activity in 2021. 762 deals worth a combined total of $44.4 billion were completed as sellers capitalised on strong pricing to offload assets.
Posted on May 24, 2022
Posted on July 28, 2020