Asia Pacific regional cross-border investment in commercial real estate more than doubled in the first quarter of 2025, rising 116.7 percent year-on-year to US$9.5 billion, according to Knight Frank’s latest Asia-Pacific Capital Markets Insights. This sharp increase stands out amid persistent global economic volatility and uncertainty around US President Donald Trump’s tariff policies and reflects renewed investor confidence in the region’s real estate fundamentals, with Japan, Australia and South Korea emerging as key destinations.

Overall transaction volume in Asia Pacific held steady at US$33.4 billion in the first quarter of 2025, easing 0.8 percent from the same period in 2024. However, it showed a sharper 17.1 percent decline from the strong activity in the fourth quarter of 2024. International investors remain active, with cross-border transactions accounting for 28.4 percent of all investment activity, the highest proportion since the third quarter of 2