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Key Trends

  • Purchasing activity continues to be strong
  • Stabilised prime CBD offices remain sought after
  • Solid demand for industrial assets drives further yield compression
  • Selected investors display higher risk appetite for office, industrial and hotel value-added opportunities
  • Banks in major markets remain accommodative; while those in Southeast Asia adopt conservative attitude

This article was originally published in https://www.cbre.com/

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Key trends

  • Retail sales growth slows
  • Many retailers push back expansionary plans to 2022
  • F&B dominates leasing demand
  • Leasing in CBD areas remains limited
  • Pandemic-related risk remains major concern
  • Recovery to regain momentum as festive season nears

This article was originally published in https://www.cbre.com/

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Read on for the full updates from APREA’s Q3 2021 Advocacy Bulletin, which includes the following items:

China

  • The NDRC published a further Notice on 29 June 2021. The Notice includes "affordable rental housing" as an eligible asset class.

Hong Kong

  • The FSDC published a paper on "Revitalisation of Hong Kong’s REIT Market" in May 2021.

India

  • Strong comeback for REITs
  • National Monetisation Pipeline (NMP)
  • PFRDA allows pension funds to invest in debt securities of REITs and InvITs
  • India’s first Bad Bank a saviour for distressed assets
  • RBI notifies to allow FPIs to invest in debt securities of REITs and InvITs

Malaysia

  • Malaysia plans major infrastructure projects in H2

Singapore

  • Requirements on Climate-Related Disclosures and Board Diversity Policy Proposed for SGX-Listed Companies
  • Rental Waiver Framework for SMEs and Specified Non-Profit Organisations Affected During Phase 2 (Heightened Alert)
  • Singapore SPACs Listing Framework Takes Effect on 3 September 2021
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New Zealand’s recovery from the impact of Covid-19 got underway in 2021 however by this was derailed in August by the Delta variant, which returned the country into a nationwide lockdown, and resulted in the closure of the trans-Tasman bubble border.
 
Despite the Covid-19 challenges, transaction activity has remained buoyant with $300+ million sales YTD in 2021, characterised by firm yields, unsatisfied capital, and a scarcity of quality purchase opportunities.

This article was originally published in https://www.cbre.com/

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Fukuoka's residential market remains resilient

  • Fukuoka has been the fastest growing city among major regional cities in Japan.
  • The city's compact and convenient layout, young demographics, and accommodating attitude towards new ideas attract students, workers, and entrepreneurs.
  • With the leadership of its media-savvy mayor, Fukuoka is striving to become a leading city in Asia with start-ups, digital transformation, and redevelopment.
  • The central areas, such as Tenjin and Hakata, have seen sound demographic growth, and redevelopment projects such as Tenjin Big Bang and Hakata Connected should further help to make these areas attractive.
  • As a major beneficiary of inbound tourism until the pandemic, the progress towards the normalisation of international travel is a welcoming development for Fukuoka.

This article was originally published in https://www.savills.co.jp/

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