Asia Pacific’s commercial real estate market transacted more than $34 billion in direct investment in the first quarter of 2021, down less than 1 percent year-on-year. Investments in Japan ($11.5 billion), China ($8.3 billion) and South Korea ($4.3 billion) accounted for over 70 percent, with office space attracted the most capital, followed by logistics, and retail.
In a time where many companies are considering to cutback on work spaces, move out of prime CBD, or downgrade to lower-specification office buildings, tech giants are moving in the opposite direction. Google became the latest company to commit to a space in Lot Fourteen, a hi-tech business park located in Adelaide's CBD, after Amazon announced their move in February.
APAC Commercial Real Estate Investment Steady with Last Year During Q1
Asia Pacific’s commercial real estate market recorded more than $34 billion in direct investment in the first quarter of 2021, down less than 1 percent year-on-year. But investment volume fell 23% compared with the fourth quarter of 2020, even as big upturns in Australia and Singapore showed the growing confidence of global investors.
Google Joins Amazon at Adelaide’s $2bn Tech Hub
Google is the latest tech giant to sign up for space in Adelaide’s Lot Fourteen which is currently taking shape in the city’s CBD. The development is aimed at hi-tech industries including artificial intelligence, machine learning, cybersecurity, data analytics, computer vision, augmented/virtual reality and the internet of things.
London’s ‘Super-prime’ Luxury Property Market was World Leader in 2020
London had the highest number of super-luxury home purchases of any city in the world during 2020, outperforming its traditional rivals of New York and Hong Kong. Transactions in London rose by 3% in 2020, while in Hong Kong and New York, they fell by 27% and 48% respectively.
Read also: Investing in the UK Real Estate Market
How Science-based Targets are Helping Real Estate Shrink its Carbon Footprint
With deadlines for international sustainability commitments focussing attention on the need for action, more real estate companies are turning to science-based targets to help mitigate the worst impacts of climate change and future-proof businesses.
Data Centre Demand Driving Up Industrial Land Prices
The demand for data centres, sparked by the global pandemic, is driving up industrial land prices in select Australian locations. In 2020, data centre groups acquired about 55-hectar of land for hyper-scale cloud sites. Data centre net absorption doubled in the past year with markets including Tokyo, Sydney, Singapore and Hong Kong reaching 321.6 megawatts.
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