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Commercial real-estate markets in Asia to hit new highs this year, says JLL

January 21, 2015 12:12 PM SGT

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SINGAPORE (Jan 21): Transaction volumes across Asia commercial real estate markets are expected to reach a new record this year, with a full year estimate of US$140 billion ($187 billion), according to the global real estate services firm JLL.

For 4Q 2014, commercial real estate transaction volumes came in at US$43 billion, up 17% on the same quarter a year ago. As such, the full year transaction volumes were up 2% to US$131 billion in 2014.

The strong volume in the final quarter of 2014 was buoyed by strong results in Asia Pacific’s largest markets of Australia, Japan and China, as well as record performances from Korea and New Zealand.

On the home front, Singapore finished the year quietly, with US$1.2 billion in transactions, down 64% on 4Q 2013. This was due to a lack of available product on the market as full year volumes went down 30% to US$8.1 billion.

However, 2015 might prove a better year as a number of deals are already at advanced stages of negotiations and a there is a strong deal pipeline in 2015.

Dr Megan Walters, Head of Research, Asia Pacific Capital Markets, JLL, said: “Private equity (PE) funds will almost certainly be active buyers and sellers in the region in 2015. Many of the 2006-2007 PE funds are reaching maturity and there are a number funds actively in the market after raising in excess of US$10 billion last year.”

He adds that there are now more new players moving into markets such as Korea, Thailand, India and other emerging markets, while bigger markets like Hong Kong and Singapore continue to lag behind.

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