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Asia Pacific Expert Insights | July 2022

We discuss opportunities in the life sciences sector in Australia, opportunities to rediscover Kowloon West in Hong Kong, Korea’s Commercial Real Estate Investment Market, a Wine Market Update from New Zealand and the latest GDP numbers from the Philippines.


Markets to highlight this month:

 
Australia
 
 
Hong Kong
 
 
Korea
 
 
NZ
 
 
Philippines

 

Australia 2022 Life Sciences Report

 

Life sciences assets are lower risk, with long-term cash flows and reduced rental downtime.


Life Sciences sector growth has created a specialist real estate need. The size of the sector as an asset class is growing, including specialist buildings encompassing traditional offices, labs and production-based facilities. Like many alternative real estate asset classes, life science companies prefer locking in longer lease terms, given the more specialised nature of the space they occupy. This provides real estate offers a lower risk asset with a long-term cash flow and reduced levels of rental downtime.

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Hong Kong | Rediscovering Kowloon West

 

Driven by a need to integrate with the Greater Bay Area, Hong Kong’s development will shift from east to west.


We expect a shift in Hong Kong’s development to the west over the next two decades. Driven by Greater Bay Area integration, emerging office clusters in Kowloon West should become an alternative flight-to-quality location, supported by relatively low rents when compared to CBD and the new supply of high-quality buildings. This report outlines the upcoming development areas and infrastructure projects on the western side of Hong Kong and identifies related opportunities for occupiers and investors.

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Korea | Commercial Real Estate Investment Market

 

Korea’s investment market is evolving amidst high demand and rising interest rates.


In 2021, led by domestic investors, the Korean commercial real estate investment market achieved the highest investment volume across all sectors due to low interest rates and abundant liquidity. Competition is also increasing, with not only REITs, but also investment platforms offering digital asset backed securities (DABS) and tech companies arising as major buyers of real estate. We recommend investors diversify, such as from offices to data centers, to reposition capital seeking the highest returns available in the current market.

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New Zealand | Wine Market Update

 

Strong wine industry growth and stronger demand from export markets is resulting in vineyard values increasing.


We have seen strong growth in the wine industry with increased vineyard production, processing capacity and stronger demand from export markets. Over the past 10 years exports doubled to $2.1 billion, driving an increase in vineyard values. Over the past 15 years, productive vineyard land in New Zealand increased by 64 percent and we expect this will grow further with 1,000+ hectares to be planted within the next couple of years.

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Philippines | Q1 GDP Flash Report

 

Property is in expansion mode as economic growth surpasses pre-2020 levels.


The Philippine economy surprised with an 8.3% growth in Q1 2022, a reversal from the 3.8% contraction posted a year ago, making the Philippines the fastest-growing economy in the East Asian region during the period. We believe this level of economic output sets the stage for accelerated GDP growth beyond 2022. The continued implementation of pro-property reforms such as accelerated infrastructure construction should guide property firms with their expansion plans over the next three to six years.

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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 Ian Sanders, Thomas Chak, Sungwook Cho, Tim Gifford, Richard Raymundo.

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

 


Related Experts

Richard Raymundo

Managing Director

Manila

With over 25 years of research and consultancy experience, Richard has been involved in various projects in Asia. He has been involved in various projects in Asia particularly the Philippines, Hong Kong, China, Indonesia, Korea, Malaysia, Vietnam, Cambodia and Thailand. This has covered sectors from simple developments to large-scale mixed uses with office, retail, residential, hotel, industrial and institutional land uses.

Richard has been involved in complex assignments that entail creative solutions. This would include brand conceptualization, destination development, land use spatial analysis and marketing strategies. 

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