Commercial real estate transactions in Asia Pacific rose 13% YoY to US$30.5b in the first quarter, snapping seven straight quarters of decline as investments in key markets like Singapore picked up, according to JLL.
Commercial property investments also rose in Singapore, albeit at a softer rate of 14% YoY compared to the two other markets, according to the property agency. The city-state booked US$2.2b worth of transactions last quarter, driven by strong demand in the retail sector. The property agency expects investors to mainly focus on the retail, hospitality and logistics sectors for the rest of the year.
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