Despite the global pandemic, property investment in Asia Pacific in the first quarter of 2021 managed to match 2020 levels and outperform other regions.
The figures produced by Jones Lang Lasalle (JLL), showed that there were US$34 billion worth of direct real estate transactions between January and March.
Activity was concentrated in three markets with a strong domestic focus – Japan, China and South Korea – which collectively accounted for 71% of the total volume.
Singapore and Australia enjoyed year on year growth of 280% and 68% respectively thanks to the return of global institutional investors.
In terms of sectors, logistics remained the favourite with a 26% rise in year on year.
According to JLL, investment volume will rise by 15-20% during the remainder of 2021.
The idea that the region’s property markets have withstood the effect of the Covid-19 pandemic is supported by another recently released report from financial data provider, Macrobond.
Its research highlights China, Japan and Australia as three markets where property prices and transactions have held up over the last year.
© 2021 funds global asia