“If 2020 was the year that changed everything, 2021 may be the year where change becomes the new standard,” according to JLL’s 2021 Outlook for Asia Pacific capital markets. The December 2020 report investigates if 2021 will be the start of a new cycle in Asia Pacific rather than just a rebound. “The arrival of 2021 may not shake off all the challenges of a pandemic-riddled economy, but it could quickly establish itself as a year where Asia Pacific enters a new cycle of real estate growth, innovation and investment.”

According to JLL, there are three factors that, once aligned, will shift how investors view assets and how occupiers and consumers use real estate across Asia Pacific: economic recovery is likely in many markets; new dynamics influencing how people work, live and play will become more obvious; and pre-COVID real estate trends will continue to accelerate.

From 2021, the impact of COVID will loom large but will not define Asia Pacific’s