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Research - NOVEMBER 16, 2020

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Asia Pacific multifamily investments to accelerate despite COVID-19

by Released

Investors will allocate more capital into the Asia Pacific multifamily sector, residential buildings held in unified ownership with units to be separately let, beyond 2020 as the asset class becomes a core component of regional real estate portfolios. According to JLL, multifamily (build-to-rent) investments in Asia Pacific totaled $6.7 billion in the first half of 2020, approaching the volumes recorded in full year 2019, as investors seek defensive assets and shift toward structural capital deployment strategies.

The sharp increase observed in the first half was attributable to recent cross-border portfolio deals in Japan, including strategic deployments by Blackstone. The Japan multifamily sector currently accounts for more than 95 percent of available multifamily stock in Asia Pacific, but JLL estimates that with a sharp pick up in new supply in China and Australia, the Japan proportion will decline to 85 percent in 2023.

“Asia Pacific’s multifamily sector has

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