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Another bumper year for Asia Pacific Commercial Real Estate?
Written by: Roddy Allan, Chief Research Officer, Asia Pacific at JLL 2024 was a year of consistent upside for the Asia Pacific CRE sector. Investment-wise, there were four consecutive quarters of annualized growth, bringing full-year investment volumes to US$ 130.4 billion, a 22% year-on-year (YoY) increase. Growth sources were diversified. The US Federal Reserve’s first interest rate cut in 4 years helped. Furthermore, record hotel transaction volumes from travel returning to pre-pandemic levels, and sustained momentum in investor appetite for data centers in the region, fueled by rapid AI development and demand for cloud computing infrastructure, also influenced sentiment.