Southeast Asia Bulletin, Q1 2024
After enduring a challenging 2023 marked by high interest rates, a weaker-than-expected recovery in mainland China, and geopolitical tensions that weighed on leasing and investment activity, the Asia Pacific (APAC) real estate market is poised for a brighter 2H 2024. Therein, many housing markets in regional gateway cities will continue benefiting from factors like wealth effect, demand exceeding supply, and optimistic economic growth prospects.
In the office sector, corporate net zero carbon goals are driving ambitious decarbonization strategies for occupiers by energy audits, sustainable fit-outs, and green leases, leading to a significant gap between supply and demand for sustainable and green-certified buildings in the region.
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