According to global property consultant CBRE, Japan's commercial real estate investment rose by 14% year-over-year to JPY 1.4 trillion in Q4 2022 driven by purchasing by domestic investors.
Commercial real estate investment in Asia Pacific in 2022 declined by 27% year-on-year as a tightening interest rate cycle and global macroeconomic uncertainties influenced decision-making.
According to global property consultant CBRE, Tokyo's All-Grade office vacancy rate fell by 0.2 points to 4.7% in Q4 2022, representing the first q-o-q decline in almost three years since Q1 2020. Take-ups by relocations aimed at upgrading or expansion outpaced new vacancies.
According to CBRE's latest Asia Pacific Live-Work-Shop Report, while the adoption of hybrid work continues to have a major influence on where consumers are choosing to work and live, more people in Asia Pacific are actually planning to move closer to city centers.