CBRE Japan is reporting that while commercial real estate transaction volume declined by 20% year-over-year globally in 2022, investment volume in Japan remained largely unchanged, with only a 2% fall from the previous year.
Global property consultant Knight Frank is reporting this week that Singapore leads the Q4 2022 rankings, pushing New York off the top spot. Singapore's annual rental growth grew from 23% in Q3 to 28% in Q4 2022, with limited stock and strong demand driving prices higher.
According to international property consultant Knight Frank, prime residential rents continue to rise but the rate of growth is slowing. Across ten global cities luxury rents increased 10.2% on average in the 12 months to Q3 2022, down from a high of 11.9% in Q1 2022.
Hong Kong's average cost of designing and building workspaces raised 8.3% to USD 130 per sq ft (around HKD 1,015 per sq ft) in 2022, according to JLL's Asia Pacific Fit-Out Cost Guide 2022/2023. The increase in cost has slowed compared to the 9% growth in 2021.
According to CBRE's latest 'Asia Pacific Sustainable City Ranking' report, cities in Japan and Australia are the most resilient to environmental risks and Ho Chi Minh City is the most resilient emerging Asian market.
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