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Asia-Pacific cities lag investment vigor
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ASIA-PACIFIC cities have some way to go to match their European and North American counterparts regarding intensity of investment even though they are increasingly sought-after real estate investment destinations, said a report released by property service provider JLL.
Only four cities in the region — Sydney, Melbourne, Hong Kong and Tokyo — managed to inch into the top-30 list, which ranks cities around the world by measuring the volume of direct commercial real estate investment in a city over a three-year period relative to its economic size.
The four cities ranked eighth, 16th, 28th and 30th, respectively, according to JLL’s latest Investment Intensity Index.
“Although the emerging cities of Asia-Pacific are attracting an ever greater share of global real estate investment, our latest index shows there is some way to go before they punch their weight in terms of investment intensity,” said Megan Walters, head of research for JLL Asia-Pacific.
“The balance is starting to shift, however, as real estate investors are looking more and more to developing cities to satisfy their diversification requirements.”
An estimated 60 percent of the global office development pipeline until 2020 is set to be in emerging markets, JLL’s data showed.
Meanwhile, Shanghai and Beijing have immense opportunities to expand their real estate investment intensity, according to JLL.
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