Annual investment volume in multifamily residential assets in Asia Pacific is expected to more than double in size by 2030, with investments to potentially cross US$20 billion by the end of the decade, according to an October 2023 report from JLL, Multifamily in motion: A deep dive into Asia Pacific’s living sector. Driven by factors including urbanisation, high renter population and stretched housing affordability, multifamily residential will transition from a peripheral to a major asset class by the beginning of the next decade, notes the report.

In the first three quarters of 2023, multifamily investment volumes in Asia Pacific outperformed the broader market, with investments in the sector reaching US$5 billion — an increase of 12 percent year-on-year despite a 24 percent decline in total real estate investment volumes in the region