2024 Asia Pacific Real Estate Market Outlook Mid-Year Review (CBRE) 31 July 2024
CBRE’s 2024 Asia Pacific Real Estate Market Outlook Mid-Year Review examines the predictions we made at the beginning of 2024, and reveals our outlook for the rest of the year.
Our original forecasts from January were largely correct, although the prolonging of expected interest rate cuts has delayed a recovery in investment activity. CBRE has therefore slightly revised down its full-year investment volume forecast to an increase of 0% to 3%.
CBRE retains its forecasted full-year gross office leasing volume at 0 to 5% growth on the back of solid upgrade demand and flight to green relocation, while retail expansionary demand remains resilient, as expected. Conversely, logistics demand normalised faster than expected as occupiers retain a preference for renewals over relocations due to high rents and fit-out costs.
This report explores the key trends and forecasts that will shape Asia Pacific’s commercial real estate market for the rest of 2024 and beyond.
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