Direct commercial real estate investment in Asia Pacific exceeded market expectations in the first half of 2013, reaching US$59.7 billion, 21% up on the first half of 2012, according to research by Jones Lang LaSalle.
The growth was predominantly driven by the region’s largest markets, with Japan, Australia and China all experiencing strong deal flow throughout the quarter.
In Japan, investor confidence has been boosted by improving macro-economic indicators following government stimulatory measures. Acquisitions have been dominated by J-REITs where inclusion in the Bank of Japan’s asset purchase programme supported improved unit prices over the first half of the year.
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