In 2018, APAC real estate funds and institutional investors are expected to lead investment activity. عقارات | عقارات قطر | شقق للبيع
According to CBRE's 2018 Asia Pacific Real Estate Market Outlook Report, the commercial real estate market in Asia Pacific will be increasingly characterized by evolving business conditions, technological innovation's rising impact, and occupiers' demand for a better user experience. Investors can refine their investment strategies to best take advantage of evolving occupier demands in the area as a result of strong market changes.
"With the age of yield compression coming to an end, income growth is expected to become the primary driver of capital growth. Investors would need to employ strategies that take advantage of rising rental cycles in specific markets while also reinforcing an emphasis on asset management as a means of boosting rental income "CBRE Asia Pacific's Chief Executive Officer, Steve Swerdlow, said.
As a result of changing market conditions, CBRE expects occupiers to continue to reconfigure office portfolios to include a mix of core premises (owned or leased) and flexible accommodation (co-working or shared) in 2018. Companies will concentrate on more advanced organizational design and management in their core premises, such as incorporating Activity-based Working and providing fitness facilities and other amenities, with user experience as the next major workplace trend. Companies will increasingly use co-working space in the realm of open space due to the versatility it provides in terms of lease terms and duration, as well as cost savings and opportunities for collaboration and innovation.
In addition, the adoption of technological advances in the workplace will continue to gain traction. As the battle for talent heats up, the workplace and customer interface will play a bigger role in businesses' efforts to recruit and retain top talent.
"In the business environment of the country, the power balance is changing. Companies are incorporating more versatility and agility into their corporate real estate strategies to ensure that they can react quickly to a constantly evolving external climate. As a result of broader market changes, user experience in the workplace and as a customer will play a more influential role and become a more prominent priority for occupiers "CBRE Asia Pacific's Head of Research, Dr Henry Chin, said.
The retail sector in the area will continue to undergo significant structural changes. According to CBRE, rivalry between offline and online marketplaces is leveling off, as retailers see opportunities to gain a competitive edge by developing and implementing successful omni-channel strategies. Increasing the use of technology, such as click-and-collect services and the distribution of in-store transactions, is one example.
Alternative models, such as pop-up shops or festivals, as well as flagship stores with experiential elements, will become more critical factors for retailers in attracting customers. Landlords will place a greater emphasis on retailtainment and attracting high-impact tenants who can boost foot traffic and generate publicity.
As a result, third-party logistics and online retailers would profit from retailers' embrace of omni-channel strategies. Operating scale is important for e-commerce companies as they continue to grow to new locations in order to gain market share. Leading e-commerce companies in China are seeking backwards integration by assuming control of their logistics and distribution operations.
Increasing customer demand for faster delivery times is expected to increase the importance of last-mile delivery and increase the demand for urban logistics space. Increased competition would force logistics occupiers to introduce new technologies such as more streamlined and intelligent manufacturing processes, automated storage and retrieval systems (ASRS), and autonomous distribution systems to increase performance.
Outlook for the Capital Markets Sector:
Private equity real estate funds and Asia-based institutional investors will continue to drive demand in the investment market.
Rising long-term interest rates will put downward pressure on yields, which will be offset by strong cross-border capital flows. In 2018, prime yields will remain relatively stable, with expansion and compression restricted to a range of 10-15 basis points and limited to a few markets.
Outlook for the Office Sector:
In 2018, demand will remain stable, owing to strong leasing operation in India and the upgrading of facilities in Japan.
The financial and technology sectors will continue to be the primary drivers of office leasing demand.
Grade Level Change India and China are expected to dominate the office supply, which is expected to reach a record peak of over 60 million sq. ft., up 26% from 2017.
Restricted Grade A rental growth is expected in 15 major markets, with a growth rate of around / less than 2% expected. Singapore and Sydney will lead the way in terms of development, while Tokyo and Shenzhen will see the start of a rental downward cycle due to oversupply.
Outlook for the Retail Industry:
Retail sales are expected to continue to expand in tandem with e-commerce.
Consumer awareness and the wellness trend will drive health & fitness demand from sporting goods retailers, wellness centers, and gyms, while F&B and entertainment-oriented retailers will lead demand.
In 2018, rental growth is expected to slow. Prime properties will be the key drivers of development, with lower-quality assets expected to struggle.
Prospects for the Industrial and Logistics Sectors:
The e-commerce industry's continued growth will fuel strong demand for logistics space in 2018. Quality expansion and relocation activities are expected to increase in China, Tokyo, and Seoul.
China's tier I cities, as well as Melbourne and Auckland, will drive regional logistics rental development.