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China’s reopening boosts Asia Pacific commercial real estate market sentiment
The reopening of China has boosted sentiment in the Asia Pacific commercial real estate sector, despite higher interest rates in many countries which have depressed investment activity, according to Andrew Haskins of Schroders Capital. While Asia Pacific real estate markets are not all moving in the same direction, a couple of trends stand out. One is that many office markets are under pressure, partly due to high supply, despite a generally smaller impact from telecommuting than in western countries. Another trend is the upturn from a low base in the retail and hospitality segments of the real estate market, which the return of tourist travel in 2023 (especially from China) should support. Schroders expects to see yield expansion in 2023 across most asset types.
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