Q3 2024 Asia Pacific Cap Rate Survey (CBRE)

CBRE professionals in Asia Pacific note that investment activity in the region is strengthening as interest rate cuts commence.

Continued cap rate expansion is expected across most markets in Asia Pacific, with cap rates in Australia showing signs of peaking, and Japan remaining stable. Core assets are expected to exhibit greater resilience over the next six months.

Other key highlights from the survey include:

• Investor risk appetite has increased slightly, and buying intentions have improved across almost all markets and investor types.
• Core Grade A offices return to investors’ radar, with neighbourhood malls also generating more interest.
• Recovery of investment activity in certain markets pushed back to mid-2025.
• More acquisition opportunities to emerge amid a narrowing price gap between buyers and sellers in most sectors.

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