asia pacific report

"Condominium prices in Tokyo 23W  have hit new highs due to continued demand from residents, consistently low interest rates, and stronger wage growth. Meanwhile, elevated construction, land, and labour costs have added additional upward price pressure and have constricted supply."

"The hospitality market outlook in Kuala Lumpur looks promising as more international brands are set to open and exciting new attractions, including Michelin-rated restaurants, will continue to drive the market’s recovery."

"The removal of extra stamp duty to non-first-time homebuyers lead more buyers from this group to enter the market. The proportion of buyers who already owned one or more residential properties stood at 44%, a significant increase from only 16% during the same period in 2023."

"Despite the challenges facing the manufacturing market, demand for high-grade factories remains strong, driven by a government-led push to lead the way in new economy industries such as NEVs, solar panels, and batteries. China reigns pre-eminently in these fields while it continues to look for new industrial highlands."

"Amidst ongoing economic uncertainty and various global challenges, the premium or luxury apartment market made only very modest progress in 2024, registering small increments in supply and demand."

"The flourishing retail sector in the Philippines’ capital is being driven by a diverse consumer population and a growing demand for both local and international brands in key submarkets. As a result, new retail developments and the expansion of existing shopping hubs are rising to meet this increasing demand."

"Beijing office market showed signs of recovery and performed better than expected at the beginning of 2024. After the pandemic from previous years, the overall economic has recovering steadily. Leasing demand in the Beijing office market saw a decent rebound in Q1/2024."