Real estate performance across much of the Asia Pacific region has been a balance between a strong capital market and a softer but recovering leasing market. Japan, South Korea and Singapore experienced a noticeable shift to the upside while take-up remained muted in China and Australia. Previously expected capital gains were generally front loaded and partially realized already due to the current strong investment market, with cap rate widening emerging as a key concern for some markets. We slightly trimmed our five-year return forecasts compared to our previous view. We maintain our favourable view for key core office markets and for the logistics sector while we have become more cautious in highly cyclical markets such as Hong Kong and Singapore.
Soruce : Deutsche Asset & Wealth Management