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Talking Points: Real Estate Update | 18 October 2021

Colliers Asia - Research - Talking Points Fortnightly Real Estate Update

Real estate insights and recommendations for occupiers and investors in Asia Pacific based on the previous fortnight’s market events.


Markets in focus this week:

 

Australia

The Sunshine Coast's market and fundamentals are strong, with residential and industrial sectors standing out

The Sunshine Coast is one of Australia's most desirable regions as a world-class place to live, work and visit. The local economy is rebounding from the impacts of Covid-19 and is supported by high levels of interstate migration, a resurgent jobs market and significant levels of infrastructure investment.

The residential and industrial sectors are standout performers, however, high population grown and resilient tourism continue to support office and retail demand.

For more insights, reach out to Nick Dowling.

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Shenyang, China - Office

Demand continued to recover in Q1, despite waning demand from online education companies

In Q1 2021, demand continued to recover in Shenyang. Net absorption was basically the same as Q4 2020, and rents rebounded slightly. Demand from online education companies began to decrease since Q2 due to the double reduction policy.

In H2 2021, the continuing impacts of the policy should see online education companies further rebalancing their footprints. We forecast the market to see high supply through 2023, which should continue to put rents under pressure.

For more insights, reach out to Ming Lu.

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Manila, Philippines

Developers, investors remain optimistic as jabs inject much-needed boost to property

Office take-up and condominium pre-selling remain tepid across Metro Manila. We also see opportunities with outsourcing firms looking for office space within and outside Metro Manila, while residential developers continue to launch projects in anticipation of a demand recovery beyond 2021.

We urge office landlords to continue providing concessions to prioritise occupancy, while residential developers should further explore the viability of fringe locations or areas outside the traditional CBDs.

For more insights, reach out to Joey Bondoc.

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Singapore – Office

Strong net absorption pushed CBD Grade A rents up by 0.7% QOQ in Q3

CBD Grade A rents rebounded by 0.7% QOQ to SGD9.59 (USD7.05) per sq ft in Q3 2021 after five quarters of decline, driven by strong net absorption. We expect CBD Grade A rents to grow 1.6% in 2021 as vacancy declines.

Increasingly, Grade A landlords are prioritising rents over occupancy. We recommend occupiers lock in leases early, while owners should unlock value by redeveloping older properties with the URA Incentive Scheme.

For more insights, reach out to Shirley Wong.

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For more real estate research insights across Asia Pacific, reach out to our experts Nicholas Wilson, Chris Dibble and Joanne Henderson.

 


Related Experts
Singapore

Nicholas Wilson

Director, Head of Research | Capital Markets Asia

Capital Markets

Singapore

Nick joined Colliers as Director, Head of Investor and Developer Research, Asia in April 2021. Nick is responsible for the provision of thought leadership and research covering the investor and developer markets across Asia. He delivers market leading insights and actionable research to support Colliers' clients in their investment strategy and understanding of the latest trends. 

Nick has over 12 years of experience in researching real estate markets in Asia Pacific, covering a range of different geographies and sectors, as well as themes related to direct markets, indirect investment trends and real estate debt markets. Prior to joining Colliers, Nick worked for JLL in roles based in Australia, Singapore and Japan and was most recently the Head of Capital Markets Research for Asia Pacific. 

 

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New Zealand

Chris Dibble

National Director | Colliers Partnerships, Research & Communications

Research and Communications

Auckland

Chris Dibble oversees three key business units at Colliers New Zealand - Colliers Partnerships, Research and Communications.

Colliers Partnership priorities focus on support initiatives that drive collaboration, best practice learning, cost efficiencies, and growth opportunities across the wider Colliers franchise network.

As the head of research for Colliers, Chris oversees the collaboration and delivery of award-winning research reports. He is a regular presenter and market commentator, often discussing the latest insights on current and future property trends.

Chris also leads  PR and communications for Colliers. He works with in-house and external writers to curate an audience-focused content delivery strategy. 

With over 15 years of experience and university qualifications in economics, geography, marketing and property, Chris provides a multi-disciplinary approach that assists a broad range of clients and internal stakeholders.

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Australia

Joanne Henderson

National Director | Research

Research

Sydney

Joanne has over 15 years of experience working within property research and specialising in property data.  Having previously managed a real estate data product with over 70 subscribers, Joanne has a strong track record of maintaining client relationships as well as delivering quality real estate data and insights.

Joanne leads and manages the Colliers Edge product which is the Colliers premium research data product for clients. Her role also includes maintaining and improving data management systems that the Research and wider business teams use to store and utilise our valuable datasets.

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Australia

Nick Dowling

Managing Director | Sunshine Coast

Commercial Sales & Leasing

Sunshine Coast

Nick began his commercial real estate career in 1997 as an industrial specialist on Brisbane’s southside. He quickly made the transition into the corporate world in 1999 where he worked for Jones Lang LaSalle until late 2004. His time in the Brisbane market enabled him to establish strong relationships and contacts with some of Queensland’s most active players in the commercial property market.

Since moving back to the Sunshine Coast in 2004, Nick has become the Managing Director and owner of Colliers International’s Sunshine Coast business and has a focus on ensuring he maintains a dynamic team of property professionals.  

Nick also has a particular interest in the identification of major development and investment opportunities. His track record in these areas of the market is a reflection of his understanding and belief in the Sunshine Coast property market.

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Philippines

Joey Bondoc

Associate Director

Research

Manila

Prior to joining Colliers in March 2016, Joey worked as a Research Manager for a research and consutancy firm where he handled business, political, and macroeconomic analysis. He took part in a number of consultancy projects with multilateral agencies and provided research support and policy recommendations to key government officials and top executives of MNCs in the Philippines.

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Singapore

Shirley Wong

Director

Research

Singapore

Shirley carries with her more than 15 years of experience, primarily in real estate and equity research in top-tier investment and private banks, as well as portfolio management in a fund management firm. In her previous roles, her coverage and experience spans across Asia Pacific real estate markets and included all segments of real estate. 

 

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