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Strong Investment in Asia Pacific's Commercial Property Market in H2

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China  Asia  Asia Pacific  Jones Lang LaSalle  Jeremy Sheldon  Jane Murray  Commercial Property Markets Asia 

Strong Investment in Asia Pacific's Commercial Property Market in H2

By - Wednesday 17 October 2012

Despite uncertainties in the global economy, the Asia Pacific property market remains largely resilient due to strong investment volumes, according to Jones Lang LaSalle's (JLL) Asia Pacific Property Digest (APPD) for Q2 2012.

However, despite high investor appetite, the slowdown in leasing activity suggests that the region "is not completely immune".

The strong direct commercial property investment market in the second quarter (Q2) of this year was reflected by a 26% year-on-year rise in volumes to around £16.3 billion. As stronger investment volumes came in, capital values also increased across most major markets.

On the contrary, office leasing activity fell by approximately 10% in Q2 this year compared to the same period last year, mainly due to "corporate caution and the flow-on effects of on-going economic uncertainty".

Dr Jane Murray, head of research at JLL Asia Pacific said: "The Asia Pacific property markets are holding up relatively well given the global economic backdrop. Leasing activity levels should continue to trend moderately lower than last year's record levels, while we expect investors will continue to search out opportunities, particularly in prime locations."

Moving forward, JLL generally expects capital values and rents to increase in most Asian markets, albeit at a slower rate compared to 2011.

Jeremy Sheldon, managing director for Markets Asia Pacific at JLL, commented: "There has been a decline in the established financial markets, however we are seeing strong demand in key South East Asian markets, and certain cities in China. While this pattern is likely to continue through the remainder of the year, we are optimistic that leasing will remain largely stable."

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