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Asia Pacific Market Snapshot | Q3 2022

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2022 Q3 Colliers APAC Market Snapshot 1536x1040

Dealmaking activity across Asia Pacific continued despite macroeconomic challenges, with investors banking on office and industrial assets for long-term value.


Major real estate markets across the Asia Pacific region had to contend with high inflation and rising interest rates, which impacted sentiment and slowed the momentum gained in the first half of the year. Nonetheless, these challenges were offset by the lifting of Covid-19-related restrictions on travel and work in most countries, which supported dealmaking and helped market participants adopt a cautiously optimistic view of the future.

Regional trends and key report highlights for Asia Pacific:

  • In Australia, Melbourne and Sydney recorded transactions worth nearly USD1.5 billion as ongoing flight-to-quality continues to underpin recovering office fundamentals, particularly across the Prime end of the office sector.

  • Major markets in China witnessed deals worth over USD4.79 billion, with transactions dominated by the office segment.

  • Deals resumed in Hong Kong SAR despite Fed rate hikes, with transaction volumes jumped 133% quarter-on-quarter to USD5.27 million.

  • Although the strong momentum in the first two quarters slowed amid various economic headwinds, year-to-date investment volumes in Singapore touched USD16.7 billion, or 85% of the total recorded in 2021.

  • The real estate market in India enjoyed an upbeat quarter, with multiple segments in key Indian markets experiencing strong demand, and three en-bloc transactions worth USD500 million in Mumbai and the National Capital Region finalised.

  • Japan witnessed the sale of an office building in Tokyo for a record-high price of over USD2.86 billion, and low rates and relaxing of border restrictions are expected to benefit real estate transactions.

  • Investment activity continued in Korea, with total office transactions reaching USD2.2 billion as Seoul office real estate continues to power the Korean market.

  • Taiwan remains a relatively safe investment destination, witnessing transactions worth over USD900 million.

Download the report below for more expert recommendations for real estate owners and investors across Asia Pacific, or contact our experts Chris PilgrimJohn Howald and John Marasco for key trends and opportunities across the Asia Pacific capital markets.


2022 Q3 Colliers APAC Market Snapshot 1024x972

Asia Pacific Market Snapshot | Q3 2022

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Singapore

Chris Pilgrim

Director, Global Capital Markets

Global Capital Markets

Chris Pilgrim is a Director of Colliers and holds a senior leadership position within the Global Capital Markets platform, and he specialises in the deployment of capital into real estate globally. In the last three years, our Capital Markets teams have been involved in over US$230 billion worth of transactions. 

Chris is focused on connecting global capital with opportunities across regions and asset classes, working collaboratively with the Colliers teams across the world. He has a unique breadth of global experience and has advised on inter-regional real estate investment between APAC, EMEA and the Americas regions. He is an expert in large scale investments with a history of major cross-border transactions totalling in excess of US$10 billion. Chris is also a specialist in advising on complex development projects and successfully marketing landmark single assets with values in excess of US$1 billion. 

Based in London, United Kingdom, Chris joined Colliers 2021 as a highly respected leader in global deployment of capital for the world’s leading investors. He was formerly an executive director at CBRE, where he led its Global Capital Markets team for Southeast Asia and was previously based in Singapore.

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Singapore

John Howald

Executive Director, Head of International Capital, Asia Pacific

Capital Markets & Investment Services

Singapore

An accomplished leader in real estate cross-border investments and advisory, John brings a wealth of knowledge, expertise and track record from over 15 years of successfully securing investment opportunities and divesting large scale assets and portfolios for global capital.


John is the Executive Director, Head of International Capital across Asia Pacific for the Capital Markets & Investment Services business at Colliers. In this role, he is responsible for growing cross border investment activity from Asia Pacific in collaboration with the global capital markets teams. He leads international client relationship development and provides real estate investment and divestment advice, including origination and completion of investment transactions with global capital sources.


Prior to Colliers, John led Jones Lang LaSalle’s International Investment team in Japan, focusing on cross-border investment and structuring advice for direct real estate transactions and equity raises. John had previously worked as a real estate, hospitality and M&A advisor for a global consultancy in Tokyo and New York, as well as at a US-based developer.
 

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Australia

John Marasco

Managing Director | Capital Markets & Investment Services

Investment Services

Melbourne

I have been with Colliers International for over 25 years and am the Managing Director of Capital Markets & Investment Services, Australia as well as the State Chief Executive of Victoria.  

I have established a strong reputation in the Capital Markets space and have formed close relationships with major investors and institutions on a global scale. In recent years, I have negotiated some of Australia’s largest real estate transactions and have been instrumental in successfully brokering many substantial transactions with overseas investors entering the Australian market. My extensive connectivity in the global real estate market can unite capital with local expertise, regardless of location.

Our national Investment Services business represents market specializations including Capital Markets and Investment Sales. The two clear divisions servicing the Australian commercial office market ensures complete market coverage, efficiency and premium experiences and successes for our clients. 

‚ÄčAs a long standing senior member within Colliers International, I have played an integral role in contributing to the business's success in Australia. I hold a number of senior positions with Colliers including a member of the National Executive Board. I am committed to the success of the business by providing our people with the tools they require to deliver incomparable service and results.

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Asia Pacific Market Snapshot | Q3 2022