Commercial real estate investment in Asia Pacific rose 23 percent year-on-year in 2024 to US$131.3 billion, surpassing 2022 levels, according to JLL.

Fourth quarter volumes rose 10 percent year-on-year and reached US$34.9 billion, marking the fifth consecutive quarter of year-on-year growth for the region.

All major property sectors registered full-year volume growth, with the highest quarterly cross-border volume recorded since the end of 2021. Strong cross-border investment volumes totalled US$23.8 billion in 2024, a 43 percent year-on-year increase from this time last year. This surge in cross-border investment was underpinned by strong interest in office and logistics assets from overseas investors in key markets such as Australia, Japan and Singapore.

Japan continues to be an extremely active market in the region, recording US$10.7 billion in fourth quarter trades, a 145 percent year-on-year increase driven by strong demand for logistics and office properti