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Interest in the logistics sector has persisted over the past half-year, and both development and transaction activity have remained strong. That said, the market appears to be entering a period of transition, and there are some concerns that the previously tight balance between demand and supply has already started to loosen.
Although vacancies in Greater Tokyo and Greater Osaka remain moderate overall, average rents experienced a contraction over the past half-year. Furthermore, some existing facilities are reportedly struggling with vacancies, and pre-leasing activity has been sluggish in several new developments.
Indeed, a wave of new supply is forecast over the next few years in both submarkets, and competition for tenants will increase, which is likely to contribute to some upward vacancy movement and revisions in rents. Meanwhile, structural factors also look set to affect confidence in the logistics sector. The ongoing labour shortage continues to increase labour costs for logistics companies, while the increase in construction costs and interest rates are forcing some investors to reconsider acquiring land for development as well as logistics facilities for the meantime.
Nonetheless, the fundamentals in the sector are still strong, and tenant demand will likely persist due to the strong growth potential of the e-commerce industry. Hence, the outlook should remain positive overall for the logistics market going forward.
This report was originally published in https://www.savills.co.jp/research_articles/167577/210564-0
Download the Report Read MoreMSCI has tracked board gender diversity every year since 2009. The Women on Boards report highlights trends across markets and sectors for publicly listed companies. The annual review provides companies, researchers, and policymakers with an objective overview of the changing share of female representation at the board level as well as among CEO and CFO roles.
Key findings
This report was originally published in https://www.msci.com/research-and-insights/women-on-boards-progress-report-2022
Download the Report Read MoreWith e-commerce penetration moderating and the growth in online sales normalising, at the same time consumers are returning to physical retail stores in great numbers, boosting footfall across many markets in Asia Pacific. Our research finds that an overwhelming majority of consumers in the region still choose to purchase goods using a range of different physical and digital touchpoints, otherwise known as omnichannel.
This Viewpoint identifies the factors driving the return to brick-and-mortar retail and explains how operators of physical stores can adapt and evolve to ensure they stay relevant in the omnichannel world.
While evidence shows that physical stores will remain at the forefront of sales strategies, CBRE believes their role must adapt and evolve to serve omnichannel retail. This evolution will see retail stores shift away from being locations purely where transactions are made, towards becoming hubs that provide comprehensive customer experiences. Investors and landlords must also adjust their strategies to suit changing consumer behaviours and retailers’ preferences.
This report was originally published in https://www.cbre.com/insights/viewpoints/optimising-brick-and-mortar-stores-to-serve-omnichannel-retail
Download the Report Read MoreNearly six years after CBRE brought to the fore the aspirations of the millennial generation in terms of how they live, work and spend their money, we went back to the drawing board to track how each generation has evolved since then. Our Live-Work-Shop survey, conducted late last year, polled more than 20,000 people worldwide, from Gen Z to baby boomers. The aim again was to understand how they will live, work and shop in the future, and how the shifting dynamics would impact the real estate they use.
The survey featured around 1,500 respondents from India, and its findings revealed fresh insights for real estate occupiers, developers and investors. We believe these stakeholders can harness our survey findings to make informed decisions and strategies to ensure that our real estate spaces are positioned to meet users’ evolving needs.
This report was originally published in https://www.cbre.com/insights/local-response/voices-from-india-how-will-people-live-work-and-shop-in-the-future
Download the Report Read MoreCBRE’s 2023 China Investor Intentions Survey was conducted between November 8, 2022, and December 2, 2022. A total of 207 mostly China-based investors participated in the survey, which asked respondents a range of questions regarding their buying appetite and preferred real estate strategies, sectors and markets for 2023.
Pandemic-related uncertainty, geopolitical tension, slower economic growth and weaker leasing fundamentals dampened commercial real estate investment sentiment in China in 2022. Full-year investment volume dropped by 22% y-o-y to RMB 220 billion, while cross-border investment fell by 19% y-o-y to RMB 49 billion. Active sectors included multifamily, science parks and industrial factories, which continued to benefit from the development of a public REIT market.
Respondents’ intentions to “buy more” and “sell more” both dropped in 2023 due to recessionary fears and mounting geopolitical tension, reflecting the mood of caution in the short-term. However, it should be noted that this survey was conducted between November 8, 2022, and December 2, 2022, prior to the government’s unveiling of a 10-point plan signalling a shift away from the zero-covid policy. CBRE expects the relaxation of the zero-covid policy; the release of industrial support policies including the “three arrows”; and the promotion of the platform economy to boost investor sentiment, ensuring actual investment activity eclipses the survey results.
This report was originally published in https://www.cbre.com/insights/reports/2023-china-investor-intentions-survey
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