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Asia Pacific Expert Insights | August 2022

From Australia and New Zealand to India, Singapore, South Korea, Japan and beyond, our experts see demand for office space despite the dominance of hybrid work models, as well as new opportunities across the real estate spectrum.


In this month’s edition of our Expert Insights, we take a closer look at some of the top regional trends, including surging office enquiries in Australia, a demand-led recovery in New Zealand's hotel market and a buoyant Singapore investment market outlook for H2 2022. We also examine the burgeoning ESG opportunities in China, and how the Philippines is now touted as the next viable destination for data centres.

 

Markets to highlight this month:

 
Australia
 
 
East China
 
 
NZ
 
 
Philippines
 
 
Singapore

 

Australia | H1 2022 Office Demand Index

Nationwide office demand increased in H1 2022, setting a record for half-year demand.

The majority of markets in Australia witnessed an increase in the area enquired for in H1 2022 compared to H1 2021. Nationally, there were 2,088 enquiries for over 1.622 million sqm recorded — an 11% increase on the area enquired for, and a 1% increase on the number of enquiries when compared to H1 2021.

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East China Radar | ESG: pathway towards a greener future

Sustainable development is a priority both in China and globally, and ESG is an essential part of corporate development.

Sustainable development has become one of China’s core policies; both in China and globally, environmental, social and governance (ESG) is an essential part of corporate development. For the real estate industrywhich accounts for about half of total carbon emissions globallyinvestors, developers and operators should actively explore how to introduce ESG strategies and management to improve the performance of their projects.

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New Zealand | Hotel Market Snapshot

New Zealand hotels have seen exceptionally strong room rates despite occupancy rates still recovering.

The New Zealand Hotel sector continued its strong demand-led recovery in Q2, with a particular emphasis on higher volumes of international and corporate travellers. One of the main talking points has been exceptionally strong room rates achieved across the country, despite occupancy rates still in recovery phase. Average room rates for the quarter ending June 2022 were above the same period in 2019 in four out of five main centres.

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Philippines | Developers plug in to data centre demand

The Philippines is one of the prime emerging data-centre markets in Southeast Asia.  

The country saw investments in the sector reach PHP15.5 billion (USD298 million) in 2021. The growing demand for these facilities will only increase, given the continued rise of e-commerce, proliferation of cloud computing technologies and need for 5G connectivity, among many other factors.

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Singapore | Q2 2022 Investment Market Report

Singapore investment volumes should continue their momentum in H2 2022, as the buoyant market brings more assets up for sale.

As yields compress, we recommend investors focus on assets with the potential for value-add and flexible usage. However, with increasing borrowing costs and macroeconomic uncertainties, investors are likely to turn more cautious and selective.

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Key Takeaways

The key takeaways in the infographic below reflect some of the main data points from each of the reports and articles profiled above.



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For recommendations and insights into commercial real estate opportunities in these markets, reach out to our experts Simon Hunt, Richard Shen, Dean Humphries, Paul Chua, Tang WeiLeng.

View more of our expert thought leadership here, or visit our research library for past market insights across Asia Pacific.