Australia

“The impact of a rise in the all-in cost of debt and higher inflation is tempering buyer appetite, resulting in lower investment volumes and longer lead times across some sectors when compared to this time last year. However, the office sector has seen several noteworthy transactions in Q3, which has lifted total commercial volumes to above the quarterly trend seen over the last two years.” – Katy Dean, Australia

China

“China's investment market remains muted with ongoing challenges, including developer financing issues and zero covid policies, increasing investor caution. Commercial asset acquisitions tend to be dominated by self-use buyers and long-term investors, such as insurance companies, while funds and private equity have largely decamped to new economy sectors.” – James Macdonald, China

Hong Kong

“Caution prevails as the economy skirts recession and a strong dollar, rising interest rates and slower growth have added to investor uncertainty while COVID policies in both Hong Kong and China look increasingly out of step with the rest of the world.” – Simon Smith, Hong Kong 

India

“The Indian real estate market continues to attract interest from overseas capital. However, there is an increasing sense of caution with rising inflation and interest rate hikes, prompting a wait-and-watch approach among investors.”– Arvind Nandan, India 

Japan

“Amidst the rising global interest rate environment, some investors in Japan are taking a wait-and-see attitude. Notwithstanding, the majority of investors are still pursuing new investment opportunities, and there has been no visible adjustment in pricing to date.” – Tetsuya Kaneko, Japan

Pakistan

“Hotel occupancy is recovering to pre-pandemic levels of close to 70% turning the investment spotlight firmly on Karachi’s hospitality sector.” – Nadine Malik, Pakistan

Malaysia

“Malaysia has witnessed its highest quarterly transaction value in two years, as deal flow in commercial land and assets returns, alongside continued investor interest in the industrial / logistics sector.” – Nabeel Hussain, Malaysia

Singapore

“High interest rates and increased global political uncertainties are changing the profile of investors away from large private equity funds and towards family offices and companies.” – Alan Cheong, Singapore

South Korea

“We are seeing weaker investment volumes on macro uncertainties and reduced market liquidity.” – JoAnn Hong, South Korea.

Taiwan

“Industrial property and industrial land saw strong demand from end-users and investors despite the fact that the commercial property and land markets are facing more challenges given rising interest rates and strict credit controls coupled with the upcoming local election.” – Erin Ting, Taiwan

Thailand

“While new supply of prime offices in Bangkok continues to outpace demand, a flight to quality has resulted in some positive rental movement. Vacancy rates in Grade B and C office buildings, however, are starting to edge up and excessive vacancies may become a significant factor for landlords to contend with in 2023” – Thanjira Wongsathirayakhun, Thailand

Vietnam

“Besides the credit tightening earlier this year, the interest rate increase by the State Bank in late September is expected to affect the real estate market. Despite this, foreign investors are actively eyeing deals in the country and recognizing Vietnam as one of the most attractive investment destinations in the region thanks to its political stability, competitive wages, and the Government's comprehensive infrastructure strategy.”  - Troy Griffiths, Vietnam