Asia Pacific real estate market revival expected to gain momentum this year
A resurgence of COVID-19 infection rates has led to the tightening of restrictions in several Asia Pacific markets in recent weeks, pointing to a potentially bumpy economic recovery. However, Asia Pacific is still set to lead global growth, while its real estate markets experience a steady, albeit uneven, recovery this year as the region emerges from the pandemic-induced disruption of 2020, according to CBRE’S 2021 Asia Pacific Real Estate Market Outlook.
The report, which provides in-depth commentary and forecasts for the Asia Pacific office, retail, logistics and investment markets, expects the recovery to be underpinned by a steady economic rebound over the next 12 months. Asia Pacific full-year GDP is projected to grow by 6.6 percent year-over-year, putting the region at the top of the global recovery curve.
Rather than a rapid “V-shaped” recovery, CBRE expects to see Asia Pacific register a
“swoosh” shaped rebound featuring a gradual retu